Park Avenue Numismatics
5084 Biscayne Blvd, Suite 105
Miami, FL 33137
Toll Free: 888-419-7136
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Market volatility, U.S. election 'don't deter $2,000 gold price, $30 silver price' near year-end
Gold last traded at $1,890 an ounce. Silver at $23.83 an ounce
NEWS SUMMARY: Precious metal prices rose Thursday on bargain hunting and a flat dollar. U.S. stocks struggled after comments from House Speaker Nancy Pelosi dampened sentiment around potential for a smaller coronavirus aid package.
RBC/Kitco
"Gold and silver are still expected to rise into year-end despite current market volatility and election turbulence, says RBC Wealth Management managing director George Gero. 'More gold volatility now and debates don't deter expectations of $2,000 gold and $30.00 silver near year-end,' Gero writes. Expectations of low inflationary pressures without new stimulus are keeping downward pressure on gold for now. 'Today FED notes and speakers. Recovery expected to take longer without stimulus and pandemics headlines adding to volatility keeping inflationary numbers low,' Gero adds. 'Election also factor in gold prices and traders also looking at Brexit, U.S.-China tensions, Venezuela and BOE litigation on gold ownership.'"
