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Central Banks’ Gold Fever To Trigger A Price Jump Above $1,400 — TD Securities

If the central banks around the world “catch the ‘gold bug’,” and continue to increase their official gold purchases, it could push the precious metal’s prices above $1,400 an ounce by 2020, according to TD Securities.

“Strong official sector gold purchases open up the possibility that prices can move significantly above our projected $1,400/oz target in late 2020,” TD Securities head of global strategy Bart Melek wrote in a report published on Thursday.

The Canadian bank is already fairly bullish on gold, projecting for the metal to end the year at $1,350 an ounce and then rise to $1,400 an ounce in 2020.

 

Altus Strategies PLC (LON:ALS) is a project generator focused on Africa, including projects in the Ivory Coast. Their aim is to deliver superior shareholder returns by cost-efficiently discovering multiple projects simultaneously, prior to entering joint ventures with third parties who fund the next phases of exploration and development. 

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