According to analyst Colin Hamilton, in the current 2021 the gold market will be calm without sharp price movements, although last 2020 the gold market experienced an incredible price rally. “This year we can hardly expect a change in the FRS policy on rates. The supply of precious metals on the market will be even, and the demand for it will gradually recover, so this year the pricing will be restrained, ”the expert said. "In our opinion, a stable year for the price of gold is not such a bad option."
BMO sees no significant factors driving the price up, although the $ 1,800 level should remain stable support. “Macroeconomic factors are undeniably positive for precious metals. There is a high risk of inflation in the United States due to the generous financial assistance program for the population. The Fed's interest rates will remain at a low level for some time to come.
For gold miners, a gold price of $ 1,800 an ounce is a great option. Therefore, investors should pay attention to the shares of some gold miners. In the current year 2021, they can make a record profit.
According to BMO Capital Markets' forecast, the average price of gold this year will be $ 1,894 per ounce. If the forecast comes true, then this average price of precious metal will become a record for the entire period of statistics.