Gold price to reach $2500 if Biden wins - Dan Popescu

After gold has topped $2,000 for the first time, is there more upside to come? We are joined by Dan Popescu, gold, silver, and forex analyst, who has covered gold since 1965, when it was $35 an ounce.

Popescu says, he was not surprised with the gold topping $2,000, and there is likely to be a short-term correction for both silver and gold. However, in terms of the outlook for year-end, Popescu believes the outcome depends heavily on the US election. He thinks a Biden win is bullish for gold, while a Trump win will see gold push lower possibly below key support at $2000.

On silver, Popescu says: 'In the monetary crisis, the precious metal dislocates from the industrial aspect and becomes a monetary metal despite the fact that about 40% of its demand is industrial.' In the monetary crisis, Silver waits for gold to give a signal, and then it starts moving faster than gold.'

Any opinion, news, research, analysis, or other information does not constitute investment or trading advice.

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