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KEFI Minerals Plc

Gold prices to hit $1,650 in H2 2020

Gold is not likely to fall sharply below the $1,550 an ounce level even though the U.S.-Iran tensions are easing and investors are embracing risk-on sentiment, according to TD Securities.

“While we see gold as a somewhat crowded trade, with spec long exposure still near extreme levels, it is unlikely that the yellow metal will fall sharply. Indeed, we expect firm support in a relatively narrow range between $1,515-1,550/ oz owing to the fact that there is depth of recent exposure at these levels,” strategists at TD Securities wrote on Monday.

KEFI Minerals plc (LON:KEFI) is an exploration and development company focussed on gold and copper deposits, primarily in the highly prospective Arabian-Nubian Shield.

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