During the current 2019, the world price of gold showed good development dynamics amid growing problems in the global economy and the escalation of the trade conflict between the United States and China. This was told by analyst Ole Hansen from Saxo Bank.

According to him, the situation in the global economy will continue to deteriorate, which in turn will lead to a further increase in gold prices. According to his forecast, in 2020 the cost of precious metals can grow by 10-15 percent to the level of $ 1,700 per ounce. In subsequent years, growth in the gold market will continue.

A weakening global economy will be one of the supporting factors for the price of gold next year. Investors will shift part of their capital into safe and protective assets, one of which is yellow precious metal. Therefore, the upward trend in the gold market will continue in the next 2020.

However, if the trade conflict between the United States and China reaches its positive end, the price of gold will again be under serious pressure. In this case, uncertainty will leave the financial markets, and investors will again prefer risky assets. Gold, as a protective asset, may lose their interest.

Danish analyst Ole Hansen is optimistic about the future prospects of the gold market, despite some difficulties. “It will take a long time before the world economy recovers again and growth continues again. Therefore, gold has a good chance to become a sought-after asset for a long time while the global economy will recover. ”