The best time for the gold market is yet to come. This opinion was voiced by analysts of the Canadian bank TD Securities. According to their forecast, the price of gold will continue to rise in 2021-22. “Investors in gold will not have to wait long for the uptrend to continue,” the bank said in its review.
“The main catalyst for rising prices will be low-interest rates and almost zero yields on government bonds. In the short and long term, interest rates will stop rising. At the same time, financial assistance from the state and vaccinations should contribute to the restoration of the world economy. As a result, the risk of the start of inflation will increase, which in turn will support the cost of the yellow precious metal, ”- this forecast was announced by the bank's analysts.
The bank also proceeds from the assumption that the average price of gold at the end of 2021 will be trading at around $ 2050 per ounce, and then it will continue to rise to $ 2225. Even if in the coming months there are prerequisites for the price to rise to $ 2,100, analysts advise being careful.
The outlook for silver is in many ways similar to gold, which means it is generally positive. Next year, the growth will continue to $ 30 per ounce. “There is a positive trend in the silver market, especially when the situation is favourable for the gold market. Therefore, silver will also respond positively to macroeconomic, political and fiscal factors, as well as the yellow precious metal, "- said in a review of the bank TDS.
Gold vs Bitcoin
Analysts at the American bank Goldman Sachs do not see the growing popularity of bitcoin as a threat to gold. Bloomberg reports this concerning the bank's review. Of course, the bitcoin cryptocurrency can draw off some of the investors and their investment capital, but in general, gold will further strengthen its position as a defensive asset in the face of the growing crisis.
“Recently, the pricing of the gold market about interest rates and the US dollar has raised concerns among some investors. Against this background, the bitcoin rate was growing rapidly, which for some time became a more attractive asset for saving savings from depreciation, ”the bank's review says. "We are seeing some shift in concepts, but we do not see the growing popularity of bitcoin as an existential threat to gold's status as the currency of last resort."
According to the bank's analysts, many private and institutional investors avoid investing in cryptocurrencies because it is very difficult to trace their origins. Also, speculative trading in bitcoin makes it a very risky investment. Therefore, there is no reason to fear that the main cryptocurrency of the world could harm the upward trend in the gold market. Moreover, both assets can easily exist parallel to each other without mutual influence.
Gold vs Bitcoin vs Digital Gold
Even though most investors still avoid investing in cryptocurrency due to the high risks. There are already projects on the cryptocurrency market that solve this problem. Digital Gold is a tool that makes it possible to purchase cryptocurrency and invest in gold! Digital Gold has issued its unique token which is pegged to physical gold. It is stable and ideal for investing in digital and physical gold. The price for Digital Gold does not depend on cryptocurrency markets, however, this coin (Gold) can be used on them at any time.
Digital Gold - meets all international standards. The project has audits of gold storage locations. There are required certificates to work with it. The token is issued only if there is gold in the vault. Inflation may not affect the coin. Although it all depends on the further Coronavirus pandemic. No one knows what will happen to the markets in 2021.
Website: https://gold.storage/ru/home
Telegram: https://t.me/digitalgoldcoin
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Reddit: https://www.reddit.com/r/golderc20/
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