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Gold May 22, 2020 01:30:40 PM

Gold Prices Likely to Hit $4,000/Oz In A Decade

Paul Ploumis
ScrapMonster Author
However, the volatility levels will be extreme, with prices likely to range from $3,000 to $4,000 per Oz over the period.

Gold Prices Likely to Hit $4,000/Oz In A Decade

SEATTLE (Scrap Monster): The gold prices are likely to witness extreme volatility not only during this year, but also during the entire next decade, said Shaun Djie, Co-founder and COO, Digix. Meantime, the traditional as well as digital forms of gold are likely to remain favourites of new investors, he added.

Djie maintained his bullish view on the yellow metal. The gold prices have more potential room for growth. The prices could see a jump from current levels of $1,750 per Oz to $1,800 per Oz or even $1,900 per Oz in the next quarter. By the end of the current year, gold is likely to test $2,000 per Oz. The long-term prospects of gold too look promising. It is likely to touch $4,000 per Oz over the next ten years. However, the volatility levels will be extreme, with prices likely to range from $3,000 to $4,000 per Oz over the period.

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Within the gold space, new technologies and investment assets will gain popularity. The restrictions imposed on social gatherings and shutdown of shops has boosted digital gold purchases. The digital way of buying gold allows customers to purchase quantities of their choice-be it grams or even micro sizes, whereas such an option is not available with traditional gold bullion purchases.

The anticipated roller-coaster ride in equity markets on account of economic uncertainties will attract more investors to gold and related assets.

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