Gold Prices Above $1972 Next Ultimate Target $2020—$2050 – Neal Bhai
Gold rates have broken a series of records over the past few weeks amid rising COVID-19 cases around the globe and worsening ties between the world’s two largest economies.
Typically, any sign of uncertainty in the financial markets boosts the appeal of gold as a safe-haven bet, as investors rush away from riskier asset classes. (Also Read: Gold’s “Dream Run” May Continue, Say Analysts)
In the international market, gold prices held steady near record highs on Tuesday as worries over global economic fallout from mounting COVID-19 cases offset an uptick in risk sentiment driven by positive US economic data.
Spot gold was last seen trading steady at $1,992 per ounce.
