Gold price well supported, has room to push to $1,800

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Gold prices are well supported around $1,800 an ounce as central banks and governments pump liquidity into financial markets, providing much needed life-support for the global economy hit by the COVID-19 pandemic, this according to Kristina Hooper, chief investment officer at Invesco.

However, investors should also expect to see some wild volatility this year, Hooper told Kitco News.

Hooper said that she sees the potential for gold to trade in a wild range between $1,500 and $2,000 an ounce this year. She added that so much will depend on how the global economy continues to react to the coronavirus. However, she also said that her base case scenario is for gold to hold around current levels.
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