Gold prices are skyrocketing. Is now the best time to buy or sell?
Gold prices are skyrocketing. Is now the best time to buy or sell?
"With oil prices down and [the] tourism sector severely impacted, many individuals in the UAE have lost their jobs or their business have been hugely impacted,“ said Arun Leslie John, Chief Market Analyst at Century Financial. "These individuals in need of cash are now opting to sell some gold and [make] some gains after witnessing the massive rally in the metal over the past few days.“Gold has gained more than 30 percent in value this year. In dollar terms, those with gold holdings could be looking at a considerable profit of more or less $500 an ounce. There are speculations that the yellow metal could hit $3,000 next year, as the coronavirus pandemic is expected to continue driving investors to seek safe havens."We've called for $3,000 gold as a target