Gold prices are rocketing higher.
This morning, the metal is up to $1,838, up another $21 an ounce.
All as investors seek safety from the pandemic. At this point, gold could hit $2,000 within months, says Goldman Sachs.
Others, including Bank of America, are calling for $3,000. All on the heels of the growing pandemic threat, lower interest rates, and central bank stimulus that may not end any time soon. According to Bank of America strategist Michael Widmer, as highlighted by CNBC, says, “At the moment there’s an awful lot of concerns (keeping gold up). We need a little bit more visibility before gold prices start peaking.”
Analysts at Citi says gold “is expected to climb to an all-time high in the next six-to-nine months, and there’s a 30% probability it’ll top $2,000 an ounce in the next three-to-five months.”