The ultimate safe haven, gold, will resume this year’s upward trajectory after the US elections, according to analysts at Royal Bank of Canada (RBC).
Traders will be looking to “stimulus legislation, inflationary prices [and] large debts, so gold can resume the upward trend towards $2,000,” said George Gero, managing director at RBC Wealth Management, as quoted by MarketWatch.
The precious metal was trading at $1,887 per ounce on Monday, well below the $2,075 level reached in August. Analysts pointed to a stronger US dollar, lower equities and options expiration as the main reasons for the drop.
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