Fitch Solutions Country Risk and Industry Research, a unit of Fitch Group, has revised its 2020 gold price forecast upwards to an average of $1 680/oz from $1 450/oz previously, as risk-off sentiment among investors is expected to persist in the coming months, boosting demand for safe haven assets such as gold. Fitch expects that, in the short term, uncertainty surrounding the full economic impact of Covid-19, low bond yields and monetary easing will support gold prices given its safe haven status.
