Analysts at Royal Bank of Canada (RBC) foresee gold, a classic haven asset, resuming the 2020 rally on post-US election turmoil if any.
Also, 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, according to Market Watch.
The yellow metal is currently trading at $1,882 per ounce, having rallied from $1,450 to a record high of $2,075 in the 4.5-months to Aug. 7.
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