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George Ma
in
Forex
April 24 15:19

World Bank expects gold prices to decline in 2021

WB links the recent rise in gold prices with an increase in demand for "safe havens".
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Average price of gold at the end of the current year may increase by 15%, up to US$1,600/oz this year, according to World Bank (WB).

"Gold prices have been growing for the sixth quarter in a row, having already increased by 6.9% in 2020 ... An average growth of 14.9% in 2020 is predicted," - said WB.
From the given WB table it follows that the average cost of gold in 2020 will rise to US$1,600 dollars/oz, and in 2021 it will slightly decrease by 0,6 % to US$1,590 dollars/oz.
WB links the recent rise in gold prices with an increase in demand for "safe havens" assets amid growing macroeconomic uncertainty coupled with aggressive monetary easing by central banks.