Credit Suisse Raises Its Gold Price Forecast !

Credit Suisse Raises Its Gold Price Forecast

The Swiss investment bank predicts gold to be $ 2,500 per Ounce for 2021. Credit Suisse, Switzerland-based investment bank, pointed to the 'perfect storm' that brought gold prices to the top and predicted that the Ounce price of gold will be $ 2,500 in 2021. The bank's analyst, Fahad Tariq, said, "The weakening dollar, falling US Treasury bond yields and widespread inflation expectations will all support the rise in gold." Tariq also stated that the demand for gold for the jewelery will also be supported. The investment bank's previous price forecast for 2021 was that gold would be around $ 1,800 per Ounce . According to the news published by Bloomberg HT, Tariq stated that the recent retreat in gold prices is expected and said, `` Our medium-term outlook for gold continues to stay upward and macroeconomic factors that seem to form an ideal set support this. ''. Tariq also stated that the US economic recovery, which may be higher than the expectation of the bank's price estimates, and the possible hawkish stance of the FED.

It May Fall in 2022

Credit Suisse said that gold prices will be around $ 2,000 for the remainder of 2020; By 2022, he predicted that the prices would fall and be around $ 2,200.