Gold price to 'revisit its peak' soon, says Bloomberg Intelligence

  • 10/04/2021
  • Source: Kitco
  • by: Anna Golubova
Gold price to 'revisit its peak' soon, says Bloomberg Intelligence
(Kitco News) After reaching new all-time highs over a year ago, gold is bound to climb back to its peak soon, said Bloomberg Intelligence in its October price outlook.

"It's only been about a year since gold's last peak, and we believe it should be a relatively short matter of time to revisit," said Bloomberg Intelligence senior commodity strategist Mike McGlone. "Gold has outperformed most major commodities in the past 20 years."

Gold's new all-time high stands above $2,060 an ounce, which was hit back in August 2020. At the time of writing, December Comex gold futures were trading at $1,769.30, up 0.62% on the day.

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