Usman Salis
The Gold Belongs to Europe and Nothern America Now
According to Michael A. Gayed, a portfolio risk manager and a market analyst, almost all gold ETFs are bought by European or North American investors.
During 2020, the price of gold has increased significantly since the beginning of the year due to the crisis, global instability, and a large number of destabilizing factors such as the spread of the coronavirus and a sharp drop in oil prices. The growth has made up more than 25%.
Following the rise in the price of gold, funds in Europe and North America, which share in gold ETFs was historically large, increased the demand for the precious metal. Now, in aggregate, through various ETFs, investors own more than 3.5 thousand tons of gold.
Gold's Long-Term Rally Is Not Over Yet
However, experts believe that the rise of gold is far from being over. According to Mike McGlone, the analyst at Bloomberg, if the 2001-2011 growth trend resumes, the market could see gold worth $7,000 per ounce by 2025.
Usman Salis
