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Gold price could drop to $1,200 per ounce by 2023, warns Fitch

Added 02-27-21 02:37:01am EST - “Gold price could drop to $1,200 per ounce by 2023, warns Fitch” - Rt.com

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Posted By TheNewsCommenter: From Rt.com: “Gold price could drop to $1,200 per ounce by 2023, warns Fitch”. Below is an excerpt from the article.

According to Fitch, prices for many commodities “will benefit in the short term from returning demand while the supply response remains slow and inventories are running low.”

The price of the precious metal has been under some significant pressure lately. Gold prices fell below the $1,800 level this week, extending losses due to weak safe-haven demand and rising yields for US bonds, which push gold prices down. Prices slid more than one percent on Friday to $1,734 an ounce.

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