Gold prices last traded at $2,043 – and could head to $2,500, we believe.
All thanks to fallout from the coronavirus, economic fears, tensions with China, central banks pumping liquidity into markets, and fear ahead of U.S. elections. Worse, the International Monetary Fund estimates the global economy could shrink by up to 5% this year, prompting central banks to pump billions into the financial markets. From here, we could see $3,000 gold, noted by Bank of America.
Some of the top gold stocks to consider on the Gold Rush of 2020 are NEM, GOLD, and BTG.
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