The legend in the InstaSpot team!
Legend! You think that's bombastic rhetoric? But how should we call a man, who became the first Asian to win the junior world chess championship at 18 and who became the first Indian Grandmaster at 19? That was the start of a hard path to the World Champion title for Viswanathan Anand, the man who became a part of history of chess forever. Now one more legend in the InstaSpot team!
Borussia is one of the most titled football clubs in Germany, which has repeatedly proved to fans: the spirit of competition and leadership will certainly lead to success. Trade in the same way that sports professionals play the game: confidently and actively. Keep a "pass" from Borussia FC and be in the lead with InstaSpot!
Analysts at the Canadian bank TD Securities are confident that gold has good prospects in the future. Gold will continue rising amid low-interest rates and government bond yields. In the short and long term, interest rates will not rise, analysts say. However, financial stimulus from the state and successful vaccination of the population against the coronavirus will help the global economy recover. As a result, the risk of rising inflation may increase, which, in turn, will support the price of gold.
According to analysts, the average price of gold will reach $2,050 per ounce by the end of 2021, and then will continue rising to $2,225. However, experts advise to be careful and keep euphoria under control, even if in the coming months there are factors, which may boost gold to $2,100.
Silver also has the potential to rise, experts say. In 2021, we should expect an advance to $30 per ounce. In general, silver will follow the example of gold, positively responding to macroeconomic, political, and fiscal factors.
Gold vs. Bitcoin
Recently, the demand for bitcoin has mounted. Thus, the cryptocurrency has become a more attractive asset to keep savings from depreciation for some time. However, Goldman Sachs says there is no threat to gold. Definitely, bitcoin may attract some investors, but gold will continue to strengthen its position as a defensive asset in the face of the growing crisis. The bank's experts reassured investors that the growing popularity of bitcoin is not a threat to gold's status as a reliable asset.
Many investors avoid investing in the cryptocurrency because it is difficult to determine its origin. Moreover, speculative trading in bitcoin makes it a very risky investment. Therefore, there is no need to worry that bitcoin could harm the bullish trend in the gold market. Besides, both assets can easily exist parallel to each other without mutual influence.
By the way, today bitcoin fell by 3.17% to trade at $22,660.
Gold also inched down by 0.47% to settle at $1,873.
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