Does gold have further to run?

 

Gold has been one of the standout performers during 2020, rising from around $1500 an ounce to a whopping $2075 an ounce in August. However, with the precious metal having broken out of previous all-time highs from the Global Financial Crisis, is gold’s run higher now over? Is this as good as it gets? How about the new vaccine news? Has that changed gold’s outlook? Well, not necessarily, as the financial environment which prompted gold’s rise in 2020 is still very much pre-sent in the market. The present case for medium-term gold buying remains underpinned by low US interest rates, large amounts of QE, a weak ... more