From the beginning of the year, the price of the metal has already risen by 14 per cent and is forecast to continue to grow until the end of 2020.
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The advisors of the richest people in the world they recommend to appropriate more gold, because they question the strength of the market recovery pospandemia and the long-term impact of the waste of cash by central banks worldwide, reports Reuters.
From the beginning of the year, the price of the metal, as has increased by 14 percent up to 1.730 dollars per ounce, and now, many private bankers are betting for the gold, a coverage both for inflation and for deflation.
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Some private banks are already channeling up to 10 percent of the portfolios of their clients towards the gold as the massive stimulus from the central bank reduces the yields of the bonds and increases the risk of inflation that devalue other assets and currencies.
“It is our opinion that the weight of the money supply, the expansion, will ultimately degrade the dollar, and the commitments of the Federal Reserve, which are anchoring the real rates, make that the gold is pretty solid“believes Lisa Shalett, head of investment of wealth management at Morgan Stanley.
For example, the company UBS, the largest manager of assets for the richest people, said that gold could reach $ 1,800 an ounce by the end of the year, driven by ultralow interest rates and investors looking to gold to hedge their portfolios. In the case of a second wave of the pandemic, it may even reach a record $ 2,000.
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