WisdomTree, an asset manager, has released a gold outlook through the second quarter of next year. In the optimistic case, prices of $ 2,070 per troy ounce are in it, and in the pessimistic case, $ 1,415.
Gold, which was trading at around $ 1,800 per troy ounce at the weekend, is the only important commodity that has recorded growth in the first half of 2020 since the beginning of the year, WisdomTree explains in a recent study on the yellow precious metal. Due to the COVID 19 crisis, the plans for 2020 are completely out of joint. For example, the International Monetary Fund still has 3.3 percent GDP growth at the beginning of the year, according to the asset manager. This forecast was corrected down to -4.9 percent.
All-time high has already been missed
The S&P 500 index may have missed an all-time high so far, but in June it briefly rose to the level it had at the beginning of the year. The more technology-rich Nasdaq Composite had hit all-time highs, while less technology-focused and global indices like the MSCI ACWI hadn’t performed as well. The recovery can still be described as a V-shape. There was also a strong recovery in industrial metals and oil, but not quite as clearly as in stocks. In view of these good price and price movements, the question arises whether gold is facing a downward wave or whether the precious metal remains in the favor of investors?