Gold To Average at $1475 an Ounce in 2020
In its 2020 Commodities Outlook, ING forecast that gold price will average at $1475 an ounce in 2020.
| Period | 4Q19 | 1Q20 | 2Q20 | 3Q20 | 4Q20 |
| Gold (US$/oz) | 1,500 | 1,500 | 1,470 | 1,470 | 1,480 |
Source: ING 2020 Commodities Outlook
The gold average price at $1475 an ounce in 2020 will be supported by global trade and economic uncertainty including the US – China trade war and economic volatility elsewhere.
This is good news for LEGACi (LGC)!
With a planned global launch in the first quarter of 2020, this will provide LGC a more stable pricing environment. As LGC is 100% backed by gold, stability in the gold market is conducive to the market activity for LGC.
According to ING, support for gold in 2020 will depend on more dovish policy from central banks and the continuing global uncertainty in the global economy with slowing growth and escalating global tensions.
The US elections in the fourth quarter of 2020 may also fuel further uncertainty in the global economy which in turn will be price appreciative to gold.
Robert Leroux is the Founder of DigiLabs and Legaci Corporation. He is a Principal in numerous business ventures in Australia and internationally including in Information Technology, Digital Marketing, BPO, Management Consultancy and International Commodities Trading and Development.