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Panthera Resources Plc

Don’t Rule Out Gold At $1,450 In 2020 — UOB

In just one year from now, gold will not only breach $1,300 but also surpass $1,400 an ounce, according to United Overseas Bank (UOB).

“We forecast gold to rise further to USD 1,350 / oz by 2Q19, USD 1,380 / oz by 3Q19, USD 1,400 / oz by 4Q19 and USD 1,450 / oz by 1Q20,” UOB head of market strategy Heng Koon How and markets strategist Quek Ser Leang wrote in the bank’s outlook.

The bullish forecast is based on the dovish Federal Reserve, fresh net-long gold positions, and increased interest from China’s central bank, Singapore-based UOB stated.

Panthera Resources Plc (LON:PAT) was incorporated in the UK and Wales in 2017. The company is focused on its gold exploration and development projects in India and West Africa and the optimisation of other mineral projects.

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.