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Global shocks likely to spike gold prices this year, says GFMS report

The agency sees the geopolitical climate and equity markets as supportive for gold's role as a risk hedge

gold

GFMS Thomson Reuters has painted a bullish outlook for the global price of gold this year. The average so far has been $1,360 an ounce, it said, and could “potentially briefly approach a 2018 peak towards $1,500/oz on any exogenous shocks later in the year”. The price at present is $1,312 an ounce. The agency sees the geopolitical climate and equity markets as supportive for gold’s role as a risk hedge. Then, political uncertainty such as on Britain’s exit talks from the European Union, beside tensions in West Asia and North Africa. America is set to ...