2020 was one of the best years on record for gold, as investors piled into the safe-haven asset amid geopolitical and economic uncertainty. The precious metal even hit a record high of $2,075 on August 7, 2020.
But I don't see gold repeating its stellar performance in 2021. Instead, I see other metals- including silver and platinum - outperforming gold during the year ahead. We saw new highs for Gold and Bitcoin; however, we still didn't see new all-time highs for Silver which I expect to see in the next few years. Also, a greater focus from policymakers on renewable energy and decarbonization in 2021 may also help silver as silver is known to be an industrial metal other than a safe-haven asset only.
From my end, inflation is here to stay. Precious metals are currently trading at a very discounted price, and I believe to see a great rally for metals by end of 2021. I don't expect to see higher interest rates as I believe that there is still no recovery in the economy especially in the labor market.
Thus, by the end of 2021, I expect a boom for safe-haven assets such as Gold and Silver; however this time, Silver will outshine Gold.
But I don't see gold repeating its stellar performance in 2021. Instead, I see other metals- including silver and platinum - outperforming gold during the year ahead. We saw new highs for Gold and Bitcoin; however, we still didn't see new all-time highs for Silver which I expect to see in the next few years. Also, a greater focus from policymakers on renewable energy and decarbonization in 2021 may also help silver as silver is known to be an industrial metal other than a safe-haven asset only.
From my end, inflation is here to stay. Precious metals are currently trading at a very discounted price, and I believe to see a great rally for metals by end of 2021. I don't expect to see higher interest rates as I believe that there is still no recovery in the economy especially in the labor market.
Thus, by the end of 2021, I expect a boom for safe-haven assets such as Gold and Silver; however this time, Silver will outshine Gold.