Gold posts its biggest 2-month drop ever. How its price could still double over the next 5 years | Metals Mine

  • Gold posts its biggest 2-month drop ever. How its price could still double over the next 5 years

    From morningstar.com

    Gold prices cemented their worst two-month decline on record on Thursday, based on the price of heavily traded futures contracts. But prices for the precious metal could still nearly double in the next five years if emerging-market central banks ramp up their push to diversify their reserves away from the dollar, according to Deutsche Bank. The precious metal could rise to $8,000 in that time if emerging-market countries all target a 40% gold share in their reserves, even if their foreign-exchange reserves overall fall to $5 trillion, Jim Reid, global head of macro and thematic research at Deutsche Bank, wrote in a ... (full story)

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