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Could gold hit $5,000 in 2021?

It’s been a banner year for the world’s number one safe-haven asset. Gold has experienced a meteoric rise, hitting a record in August when it was up 40% on the year. An unprecedented pandemic-induced economic meltdown, a weakening dollar, and the cobra effect of massive a government stimulus have sent financial markets into a tailspin.

The fear index is at an all-time high, and it’s poised to get worse. Investors are terrified of a contested presidential election. Wall Street giants, most recently UBS–are telling clients to flee the markets and buy up gold. Trump, for all his love of gold, is spurring the precious metal on by pumping the fear index further with suggestions that his defeat might be the result of a fraudulent vote. In times like these, gold isn’t just a safe haven, it’s a massive opportunity. But here’s what gold loves even more: The transition from Trump to Biden.

Capital Limited (LON:CAPD) provide complete exploration and production drilling solutions to customers within the global minerals industry, with a focus on the African markets.