The analytics group from City expects further price growth for gold in the near future. According to their forecasts, prices for the precious metal could reach historical levels of $3000 per ounce over the next three years.
Experts explain such expectations are reinforced by gold's position as a risk-free asset in conditions of increasing global financial market uncertainty. They also point out that the rise in prices is evidenced by a decrease in gold production in many countries due to the pandemic, which reduces supply in the market.
"We see sustained demand for gold as an investment asset, and the situation in the global arena only strengthens this trend," the analysts note.
