Record-High Gold Prices Are in Sight
- Only a matter of time before bullion tests all-time high: ING
- Fed’s Mester sees economic risks rising as virus cases surge
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Gold prices could be set to take out their long-standing record as mounting concerns about the global economy fuel gains above $1,800 an ounce.
Spot bullion extended its advance into a sixth day as the resurgence of the coronavirus in some parts of the world adds to concerns about a protracted global downturn. Demand for havens has surged, with inflows into gold-backed exchange-traded funds this year already topping the record full-year total set more than a decade ago, and some market watchers are forecasting prices could hit all-time highs as the health crisis drags on.