Gold prices have been struggling lately, but one analyst still believes it can push higher.
In fact, according to Kitco.com, “Although the Federal Reserve has been quiet regarding the potential to launch a yield curve control program, [Kristina] Hooper [chief investment strategist at Invesco] said that if rising bond yields lead to tighter fiscal conditions or disorder in financial markets, then the central bank will be quick to act. She said that this potential guardrail in bond markets would provide critical support for gold prices through 2021.” In addition, the analyst believes gold prices could move towards $1850 by the end of the year.
In addition, according to Wells Fargo, gold could rally to $2,200 this year.
In fact, “Gold supplies have flipped from excessive to deficient,” said, John LaForget, the firm’s head of real asset strategy, as quoted by Kitco. “Such times in the past have sparked some of gold’s strongest price rallies. We believe gold could be on the eve of a new commodity bull super-cycle, which would be only the seventh since the year 1800.”