Gold Prices to Hit New All-Time High As Early As December This Year

SEATTLE (Scrap Monster): Incrementum AG, in its latest published annual report, noted that it sees nearly 45% chances for gold to touch a new all-time high at $2,100 or even higher than that, as early as December this year.

Furthermore, the report titled ‘In Gold We Trust’ sees possibilities of the yellow metal trading at around $4,800 per Oz by the end of the decade. Also, the monetary climate change triggered by the pandemic coupled with prolonged inflation may take gold prices to higher levels of $8,900 per Oz by 2030. According to the report, the inflationary trend is only in its early stages.

Earlier in March last year, the gold prices witnessed a dynamic rise, following the stock market collapse. This drove prices to new all-time highs in August 2020. The consolidation phase that followed this peak seems to be completed, the report noted. The gold prices in US dollar terms have gained approximately 25% in the previous year despite notable price decline in the second half of the year.

The report also states that silver price will also post significant gains, along with rising inflation rates. The massive push for green technologies will boost its use as an industrial metal and trigger dramatic investment in the metal.

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