"We forecast a mildly bullish 2020 with a gold price forecast of $1750 an ounce and a more bullish 2021 with a first test of all-time highs."
Calling it bluntly, this is the view of investment forecasting company InvestingHaven.
"We consider our annual gold price forecast one of those important forecasts because of our track record in forecasting gold prices. It is clear that both gold and silver started a new bull market," the company says.
"One thing that most forecasters or analysts really miss is a sense of how markets tend to work. A bull market starts slowly and picks up in speed over time. So this an early stage bull market in precious metals, and our gold price forecast reflects a slow start in 2020 with first signs of picking up speed in 2021.
"We predict gold's price could rise to $1750/oz in 2020 and $1925/oz in 2021. The prerequisite is that gold's commitment of traders report shows signs of a bull market, that the US dollar is not too bullish (neutral to bearish at times) and especially 20-year Treasury rates show declines from time to time.
"Our 2020 forecast for gold is mildly bullish while our 2021 forecast is wildly bullish with a big spike."