The gold market is still at risk of a short-term correction due to shifting investor sentiment, but the move past $1,800 creates a bright future for the precious metal, according to one Dutch Bank.
In a report Thursday, Georgette Boele, precious metal strategist at ABN AMRO, said that the stars continue to align for the gold market as prices have cleared an important psychological hurdle through $1,800 an ounce.
While reaffirming her outlook for gold prices to end the year near $1,900 an ounce, Boele updated her 2021 forecast; she said she now sees gold prices ending next year around $2,000 an ounce, up from her previous target of $1,800.
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.