If you’ve been waiting for the opportune time to invest in gold, that time is now.
While gold prices are currently sitting just above $1200, analysts believe 2017 is without a doubt a bull year for the yellow metal. Economists recently expressed the most bullish sentiments of the past year, amidst geopolitical concerns stemming from president-elect Donald Trump’s new fiscal policies intermingled with an increased demand for physical gold from those celebrating the Lunar New Year.
Prices are headed on an upward trajectory, with no foreseeable roadblocks in sight to impede growth.
To the contrary, all signs point to a bullish year for gold. With market uncertainty continuing as a radical change occurs in Washington later this month, investors are seeking a safe haven to protect portfolios. Trump’s first press conference last week left many feeling nervous about the new American era being ushered in by the controversial victor- again, promoting growth for gold bugs. With the weak US dollar comes a strong push for gold, which is what we are seeing in the market, currently.
Physical demand for gold in 2017 is on the rise, as the Chinese Lunar New Year is rapidly approaching. China, the largest producer and buyer of physical bullion is gearing up to celebrate the new year with lots of lustre, making the likelihood of continued price increases all but certain.
While many ultra-bullish analysts predict potential prices nearing $1600 by year’s end, more conservative estimates place prices in the range of $1350-$1400 by December. Nothing is certain in the market, but this appears to be a good year for gold bugs.
