News) - Despite gold’s lackluster performance in March, prices will resume an upwards trajectory, in line with expectations for a safe-haven asset during a recession. However, the road to higher prices will not be a straight one, this according to Refinitiv.
“With increased uncertainty and expectations of the economic downturn, unprecedented levels of stimulus from central banks, and interest rates remaining at historic low levels and negative territories, we believe that gold’s safe-haven appeal will be restored and we expect gold to move beyond $1,850 an ounce later in the year,” said Saida Litosh, manager of precious metals analysis at Refinitiv during a webcast Thursday.