IGTV interviewed Mark O’Byrne, Research Director at GoldCore about the outlook for gold and silver bullion.
He is bullish on both precious metals in the medium and long term. The fundamentals are very strong with strong central bank demand and ETF gold holdings reaching an all time record high due to deepening political and economic risks.
Silver at $18/oz and one eightieth of the price of gold is fundamentally undervalued and at some stage it will surge in value to catch up with gold.
There will likely be a global recession and a global financial crisis and this will see gold and silver become valuable hedging and safe haven assets again.
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GOLD PRICES (USD, GBP & EUR – AM/ PM LBMA Fix)
21-Feb-20 1633.70 1643.30, 1264.81 1269.12 & 1512.48 1515.29
20-Feb-20 1610.35 1619.00, 1250.11 1258.45 & 1491.99 1496.77
19-Feb-20 1609.50 1604.20, 1239.80 1237.80 & 1490.40 1486.29
18-Feb-20 1588.20 1589.85, 1218.47 1220.37 & 1467.34 1470.77
17-Feb-20 1580.30 1580.80, 1212.41 1215.16 & 1457.04 1458.29
14-Feb-20 1576.35 1581.40, 1209.60 1214.20 & 1453.08 1456.79
13-Feb-20 1575.00 1575.05, 1213.55 1207.59 & 1447.27 1450.94
12-Feb-20 1566.75 1563.70, 1206.55 1206.55 & 1434.83 1434.54
11-Feb-20 1567.70 1570.50, 1212.77 1211.33 & 1436.01 1438.26
10-Feb-20 1574.05 1573.20, 1219.26 1215.93 & 1437.11 1439.64
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