Investors will hoard gold even faster next year, keeping prices high: Refinitiv

Demand for gold from jewellers and central banks will remain sharply lower in 2021 than before coronavirus, but investors will keep prices high by stockpiling record amounts of bullion, Refinitiv Metals Research said.

Gold prices are near record highs after surging to $2,072.50 an ounce in August as investors in Europe and North America hoarded an asset they thought would hold its value through the pandemic.

But those high prices, along with coronavirus lockdowns, have collapsed sales of jewellery in Asia, previously the biggest driver of the bullion market.

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