What is new on the gold market? Dan Denbow, Sociètè Generale, ABN Amro, OCBC, and Goldman Sachs have spoken about the future of gold.
Why is gold considered the most profitable asset of the year?
Much has been said of gold since the beginning of 2016. The economic forecasts published by economic experts throughout the year have described the precious metal as a “safe-haven asset” and an “income multiplier”, among others.
Gold, the most profitable asset of 2016.
During the first two months of the year, gold price have shown the best performance in comparison to other assets. Although by the end of 2015, gold prices showed a 5-year minimum, gold's exchange rate have risen by 15% this year.
Gold is the topic of the year in the international financial markets, commented Dan Denbow expert at USAA Precious Metals & Minerals Fund. Experts at ABN Amro Group and the OCBC bank agree with him.
The first bank has changed its previous “bearish outlook” on gold prices for a more “bullish outlook.” The first one established a minimum of $900, while the second forecasts a possible rise to $1,400 per ounce.
Experts have stated that the economy is weak, risks in the world economy, and the Federal Reserve does not foresee another increase of interest rates. Therefore, there is a high probability to see that “bullish trend.”
Additionally, the experts have reminded that when buying gold on a regular basis, it is technically bought at average price.
Not every bank, however, supports gold in their forecasts. For instance, Societe Generale keeps a pessimistic forecast of $955 and a representative at Goldman Sachs believes gold can drop to $1000. Both banks wait for the US Fed to raise interest rates once more, for it to impact gold prices.
Gold bars as a gift!
This way or that way, gold prices are growing. On March 3, 2016 they reached $1,233 an ounce. Many start thinking about how to buy gold and gain profit, and many have already been buying it.
But what about winning gold? Read the conditions of the Global 100 contest.
Follow gold price charts and read market reviews on the official website.
