Have Gold prices bottomed or could they still go lower? [Video]
Gold prices have made a flying start to December, surging back above $1,800.
Gold prices pulled back in November on positive COVID-19 vaccine news. This ultimately presented savvy traders with a series of very attractive opportunities to "buy back into gold at heavy discount" heading into December.
Whilst gold prices trended lower, the biggest beneficiary of the COVID-19 vaccine optimism was the industrial metals such as Platinum and Copper, which both posted their best-ever month, so far this year. Platinum prices have been on a tear throughout November – climbing over 14%, whilst Copper prices hit eight year highs.
As we head into the final month of 2020 – it goes without saying – the commodity bull-run is back on!
Any potential vaccine might kill the virus, but not the vast mountains of debt and economic damage caused by the coronavirus pandemic. Central banks are expected to maintain ultra-loose monetary policies, which inadvertently will lead to higher inflation and currency debasement throughout 2021 and beyond.
Where are prices heading next? Watch The Commodity Report now, for my latest price forecasts and predictions:
Reprinted from FXStreet，the copyright all reserved by the original author.
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