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Experts Say Demand For Gold Remains High as so does Investor Interest
FinancialNewsMedia.com News Commentary
PALM BEACH, Fla., March 16, 2021 /PRNewswire/ Investor interest in gold remains high. When Wall Street is afraid, the world is dazzled by gold. That s what happened in August and September when COVID-19 panic pushed gold prices above $2,000 an ounce. Gold outperformed stocks during the volatile year of 2020, with gold prices rising 24.6%, compared with the 18.4% total returns delivered by the S&P 500 index. The World Gold Council reports inflows into gold-backed Exchange Traded Funds have offset weakness in all other sectors of the market affected by the ongoing global coronavirus pandemic. A price level to consider is the 2011 record brought forward in time by inflation which calculates to be $2,184 per troy-ounce. If you believe the near-term outlook is scarier than the 2011 U.S. debt crisis, a reasonable target for late-2020 is $2,200-plus. Investing in gold based on s