According to the forecast of the Swiss investment bank Credit Suisse, in 2020 the price of gold has good prospects for growth, although the average quarterly cost of precious metals will be in the current range. This was reported by Kitco News.
According to the forecast, the average price of gold for the current year will be $ 1,540 per ounce. The maximum level at $ 1,560 should be reached in the first quarter of 2020. Then, a gradual decrease to $ 1,525 will take place during the year.
Despite the positive mood among investors amid rising stock markets, the bank still favors predominantly restrained behavior, as there is still uncertainty about the trade conflict between the US and China. Confusion also brings Brexit. The global economy is on the verge. At any moment, the situation may change in a negative direction.
“In order to stimulate economic growth, some Central banks lowered interest rates, which in turn is a supporting factor for the price of gold. The US Federal Reserve took a break in the process of cutting rates, but the situation may change at any time if the fundamental data on the economy worsen, ”said Credit Suisse analysts.