The gold market will continue to shine through 2019 as investors have fewer options in the face of lower interest rates, slower economic growth and the rising risk of a global recession, according to one commodity analyst.
In an interview with Kitco News, Maxwell Gold, director of investment strategy at Aberdeen Standard Investments, said that while he is maintaining his forecast for gold prices to hit $1,350 an ounce by the end of the year, he sees a growing bullish case for gold to push to $1,400 an ounce.
His comments come as gold prices trade near a nine-month high. Spot gold last traded at $1,326.20 an ounce, up 0.36% on the day. U.S. markets were closed Monday for President’s Day.
Goldplat plc (LON:GDP) is an AIM-listed, profitable gold recovery services company with two market leading operations in South Africa and Ghana. The Company also has a small gold mining and exploration portfolio in Kenya, Ghana and Burkina Faso.