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Panthera Resources Plc

Gold prices to hit $1,650

Choosing to go long gold after the precious metal settles at a solid support level will pay off next year, according to TD Securities.

Even though the metal can weaken to as low as $1,425 in the short-term, the long-term picture is looking very supportive of prices reaching the $1,650 level, TD Securities said in its 2020 outlook.

“Our analysis still shows that $1,650/oz gold next year is in the cards, once the weak longs get shaken out and as modest global growth assure a low rate environment and continued Fed monetary accommodation,” the bank’s strategists said.

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.