21-7-2020
In US Dollar terms, gold has surged 19 percent to the highest since 2011 while silver reaches its highest price since 2016 this Monday, as monetary policy loosened and coronavirus impact on global growth.
Citibank expects gold price which currently around $1,820, can reach a new record high of almost US$2000 per ounce in the coming six to nine months, Goldman Sachs and some other banks also believe so.“It is only a matter of time for fresh” highs in USD, Citibank analysts said.
“Silver will continue to be pulled higher by the strong gold price and supportive financial conditions,” Morgan Stanley commented on silver: “As real demand also recovers through the second half of the year, this will add further impetus to silver’s price, narrowing the gold-silver price ratio slightly.”
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