Gold prices could reach a record by year end, but don’t expect to see a smooth ride to the top, even as measures to offset the pandemic-hit economy support the precious metal’s appeal as a haven. U.S. gold prices are likely to gradually increase over time, says Darwei Kung, portfolio manager and head of commodities at asset management firm DWS Group. An increase in individual investor demand has been “offset by reduced demand from central banks,” as many of these bank reserves are being depleted due to the economic downturn, he says. Kung also expects central banks to act if inflation accelerates and that could lead ... (full story)