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Gold Prices Will Hit $2000 In 2020

Not only has the price of gold finally eclipsed the $1600 mark, it's nearly hit the $1650 level mere days later. The rising coronavirus death toll continues to be the main driver, but weak economic data - U.S. services PMI and global industrial production - are also increasing demand for safe haven trades.

Sentiment is decidedly in the defensive camp right now and any further indications that the spread of the coronavirus is not under control - Coca-Cola just issued its own earnings warning on top of Apple's - and the sky could be the limit. Treasury yields continue to fall pushing real interest rates further into negative territory, adding another bullish sign for gold.

$2000 would be another 20% gain for gold from current levels. While it could be considered a stretch, it's not outside the realm of possibility. Do you think gold prices hit $2000 at some point this year? If not, what's your price target?

Gold Prices Will Hit $2000 In 2020

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