Gold to Cross the $2000 Mark? ETFs to Gain
Yahoo Finance - Co-chief investment officer Greg Jensen of the world’s biggest hedge fund, Bridgewater Associates, estimates that gold will touch the milestone of $2,000 an ounce (per a Financial Times article). The metal is expected to gain nearly 30% from its current $1550-an-ounce price level. It is worth noting that gold delivered an 18.9% return for 2019. Analysts believe that uncertainties surrounding the Sino-US trade war, global growth worries and geopolitical risks have been adding to the lure of the yellow metal.
Jensen believes rising political uncertainties and major central banks, especially the Fed, allowing higher inflation levels could lead to the upside in gold. In this regard, he said, “there is so much boiling conflict. People should be prepared for a much wider range of potentially more volatile set of circumstances than we are mostly accustomed to.”