‘Another upward run in the gold price isn’t out of the question’ says Mining Capital’s Alastair Ford
Mining Capital’s Alastair Ford says the recent upward momentum in the gold price is no longer in evidence as the market begins to get used to a post-coronavirus world. He says the initial uncertainty, the real fear in the market, is dissipating. Ford says its current price, around $1709/oz, is a long way ahead from where we were at the beginning of the year so we’re still seeing the desire to hedge against the rest of the global economy. However, he says as the US government continues to pump billions of dollars into its economy that may mean the gold price will have another upward run in a month or two … ”the next few days will be crucial as far as the political situation in the US”, he says.