Will gold hit $2,000?

Gold is soaring past an eight-year high now, even as equities are rebounding, in a bizarre setup that sees the two moving in lockstep when traditionally gold would be a safe haven asset that replaces money in the stock market in times of crisis. 

What it means is that our favorite safe haven asset is acting more like a riskier asset as it passed the psychological resistance point of $1,800 on Tuesday–a place it hasn’t been since 2011.

Driving gold up are plunging U.S. bond yields that do not seem positioned to reverse, amid economic recovery that appears to be flattening, another surge in coronavirus cases, and the political drama building ahead of November presidential elections. 

KEFI Minerals plc (LON:KEFI) is an exploration and development company focussed on gold and copper deposits, primarily in the highly prospective Arabian-Nubian Shield.

Click to view all articles for the EPIC:
Or click to view the full company profile:
Facebook
Twitter
LinkedIn
KEFI Minerals Plc

More articles like this

KEFI Gold and Copper

Rising demand for Copper driven by electric vehicles and AI

Flourishing activity in the electric vehicle, power infrastructure, AI and automation sectors will lead to at least 10m tonnes of additional copper consumption over the next decade, commodity trader Trafigura told Reuters. Technological developments such as

KEFI Gold and Copper

Copper prices soar to 11-month high on Chinese smelter cuts

Copper prices soar to an 11-month high as Chinese smelters cut production, sparking potential long-term investment opportunities. Copper prices skyrocketed to over $4.1 per pound, hitting their highest point in more than eleven months. This surge

KEFI Gold and Copper

Gold prices near two-month high

Gold prices lingered close to a two-month high on Monday, after softer US economic readings last week cemented prospects of an interest rate cut in June by the Federal Reserve. Spot gold edged 0.1% lower to

KEFI Gold and Copper

KEFI unveils Abu Salal deposit in Saudi Arabia

KEFI Gold and Copper has unveiled the discovery of a third significant copper-gold deposit within the expansive Hawiah Copper-Gold district in Saudi Arabia. This follows the original Hawiah discovery when drilling commenced in 2019 and the