Swiss investment bank UPS advised investors around the world to buy gold at that time.
According to Arabiya Net, this recommendation comes in light of expectations of a new wave of fluctuations in the markets due to the uncertainty in global markets due to the Corona pandemic.
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in addition to the uncertainty surrounding the scene of the US elections, whose results are widely seen as a driver of the markets in the coming period.
said the director of wealth management at the Swiss bank, Kelvin Tay, in an interview with the US CNBC network, we prefer gold ... We believe that gold will reach levels of $ 2000 an ounce by the end of the year Current
Tye added, in times of uncertainty about the US elections and the Corona pandemic, gold is a very ideal hedge tool and its recent review represents a good opportunity for investors who want to enter and invest in the precious metal. These prices represent a bottom in which to enter and build positions that will generate good returns.
and earlier this year, gold prices surpassed levels of $ 2000 an ounce for the first time in its history, but it has witnessed declines recently with profit-taking and liquidation in the market to cover positions in Stock markets experiencing sharp volatility.
Tai said that the low interest rate environment will play a decisive role in making gold attractive to investors at that time as the returns offered by other investment tools in the portfolio markets decline.
and he said, if interest rates remain low for a long time, the opportunity cost of holding gold (an asset that does not offer fixed returns) will be very low, with the fact that investors are constantly searching On the assets that provide a return, if the other assets do not provide the desired returns, then investing in gold will be the best solution.
and earlier last month, the US Federal Reserve kept interest rates unchanged and hinted at continuing expansionary policies and keeping interest rates at low levels until 2023, The Bank of England, the Bank of England, also hinted, for the first time in its history, to the possibility of resorting to negative interest rates to stimulate an economy that has been severely affected by the outbreak of the mysterious virus.
Tai also advised investors looking for good returns to invest in Chinese bonds during the coming period as it prepares to join the FTSE Russell Government Bond Index with ...
