Gold could hit US$2,100, according to one forecast
Spot gold has smashed a new record, hitting a record high of US$1,943.93 per ounce this morning, as a number of factors have combined to push the yellow metal higher.
The U.S. dollar has fallen 2.7 per cent against a basket of currencies this year, declining as much 3 per cent against the Canadian dollar and 4.5 per cent against the euro. But is gold also rallying due to fears of a second wave of the pandemic, or economies stumbling or concerns about excess stimulus?
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