Morse said his short-term target for the yellow metal is $1,725. Morse sees gold heading to $2,000 somewhere between 2020 to 2021 time frame.
"Gold is the only commodity that has investor in-flows year-to-date," said Morse. He did note there was a steep fall in mid-March as investors liquidated gold as investors needed to get liquid, but gold has resumed its march higher "...because of risk around the world."
The only factor that could slow gold's rise is central banks. Emerging markets have been slowing gold purchases due to currency depreciation versus the American dollar, but Morse believes that overall investor demand is strong enough to push gold higher.


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