RE: Bagged another 250k shares23 Oct 2020 10:41
Analyst view on Gold
Long-term gain
While predicting the price in the short term is bleak, and there may well be further losses, long-term expectations are much more optimistic.
Duncan MacInnes of the Ruffer Investment Company said he has put 8pc of the fund’s money into gold as he expected it to reach new highs in the coming years, even if there is a short-term fall.
Over the long term, he said, it is a “perfect setup” for the precious metal.
“A decade ago investors were optimistic that central banks would raise rates following the financial crisis but after 10 years we are much more indebted than we have ever been and rates have barely moved,” he said.
If the same pattern materialises in the coming decade, gold should pass its August high. “Over the next decade it is hard to think of an asset that will do better than gold,” he said.
For British investors there is even more reason to own the metal. Gold is traditionally priced in dollars, making the exchange rate another key factor. If the pound weakens, as some expect in the case of a "no-deal" Brexit, the price of gold will rise, he added.
https://www.telegraph.co.uk/investing/gold/gold-has-lost-shine-will-sparkle-soon/?li_source=LI&li_medium=liftigniter-rhr