Gold prices seen supported by trade tensions & Brexit

Gold prices are expected to remain at about $1,450 per ounce (oz) in the next three to six months into 2020, supported by the precious metal’s safe-haven value in the face of the US-China trade war, Brexit, and unrest in various parts of the world, including major gold market Hong Kong, Fitch Solutions Macro Research said in its Commodity Price Forecast.

“We maintain our gold price forecast of $1,450 per ounce (oz) for 2020, and expect prices to average around current spot levels next year. We are also neutral towards gold prices in the next three to six months, from both technical as well as fundamental perspectives,” Fitch Solutions said in the report published Nov. 29. The price projection is 5% higher year-on-year.

Anglo Pacific Group plc (LON:APF) has a 2.5% life of mine NSR royalty on the El Valle-Boinàs/Carlés gold, copper and silver mine owned by TSX-listed Orvana Minerals Corp.

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