TLTP
\nOTTAWA
\nThe ultimate safe haven, gold, will resume this year\u2019s upward trajectory after the US elections, according to analysts at Royal Bank of Canada (RBC).
\nTraders will be looking to \u201cstimulus legislation, inflationary prices [and] large debts, so gold can resume the upward trend towards $2,000,\u201d said George Gero, managing director at RBC Wealth Management, as quoted by MarketWatch.
\nThe precious metal was trading at $1,887 per ounce on Monday, well below the $2,075 level reached in August.
\nAnalysts pointed to a stronger US dollar, lower equities and options expiration as the main reasons for the drop.
\nGold rallied from $1,450 to a record high of $2,075 in the 4.5-months to August 7. Analysts project that, once the election noise passes, it could be one of the biggest asset winners. Some forecasts vary from $2,100 to $2,500 by early 2021.<\/p>\n","protected":false},"excerpt":{"rendered":"
TLTP OTTAWA The ultimate safe haven, gold, will resume this year\u2019s upward trajectory after the US elections, according to analysts at Royal Bank of Canada (RBC). Traders will be looking to \u201cstimulus legislation, inflationary prices [and] large debts, so gold can resume the upward trend towards $2,000,\u201d said George Gero, managing director at RBC Wealth […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-153907","post","type-post","status-publish","format-standard","category-business"],"yoast_head":"\n