by Lizzy Gurdus
Gold’s 2021 prospects look bright.
Citigroup in recent weeks came out with a $2,500 price target on the yellow metal for 2021, comparing its mosaic of catalysts to that of gold’s 1970-1980 bull market.
Those catalysts are “very much in place,” GraniteShares founder and CEO Will Rhind told CNBC’s “ETF Edge” on Monday.
“The stimulus … would be probably the most obvious one, the one that’s certainly driven gold prices for the majority of this year in 2020,” he said.
On top of that, the weaker dollar, rising inflation expectations, falling real yields and ongoing market volatility should all continue to boost prices, said Rhind, whose firm runs the GraniteShares Gold Trust (BAR).