Can Gold’s 10% rally continue to new record highs?
May 21, 2021 10:30
Gold has been enjoying the US dollar weakness in recent weeks with the yellow metal up nearly 12% since the lows of April. That makes it just 10% shy from its record high of around ~$2,074.00 on 3 August 2020.
According to some analysts, gold is still relatively cheap. In a note to clients, JP Morgan highlighted that gold is now attracting more interest from investors who are ditching bitcoin in favour of it.
Source: Admirals MetaTrader 5, GOLD, Monthly - Data range: from Feb 1, 2005, to May 20, 2021, performed on May 20, 2021, at 8:30 pm GMT. Please note: Past performance is not a reliable indicator of future results.