And send silver over $20/oz.
by Prinesha Naidoo
Fresh off a 15-month high of $1 303.60/oz, prevailing economic conditions may well send gold prices skyrocketing in the near term. And bolster momentum in the silver price.
“We’ve seen a rising trend range in dollar terms for nearly 6 months. If the current momentum continues, we could see gold over $1 500/oz by mid-year,” said John Butler, vice president and head of wealth services at GoldMoney.
Spot gold prices – up more than 22% year-to-date in dollar terms – received their most recent boost on the back of diminishing expectations of an interest rate hike by the US Federal Reserve (Fed) and the concomitant weakness in the dollar, as well as the Bank of Japan deciding against further monetary easing.