We Are In A Long-Term Bull Market For Gold And Silver – O’Byrne On IG TV

Mark O’Byrne, research director at GoldCore.com told IG TV that markets are likely in a long-term bull market for gold and silver and a bear market for equities as the pandemic weighs on the global economy and creates a recession or an economic depression.

Gold has made significant gains this year, with investors flocking to invest in the safe-haven asset amid the Covid-19 pandemic, which has wreaked havoc on global equities.

Gold is outperforming other assets and has delivered a 12% dollar return in 2020 year to date. Gold has seen even greater returns in other currencies and is 15% higher in euros and 19% higher in pounds year to date.

According to Mark O’Byrne, research director at Goldcore, investors can expect a long-term bull market for gold and silver and a bear market for equities as the coronavirus continues to weigh on the global economy.

When asked if gold prices could push above the $1700 mark on a sustainable basis, O’Byrne said that it is ‘a question of when, rather than if’, with the economic fallout of Covid-19 crisis so severe it has seen governments printing money ‘on scale never seen before in the history of mankind’ and currencies will fall in value against real assets like gold and silver.

Silver is particularly undervalued and silver rising back to $50/oz is a very conservative estimate indeed and we will get back to those levels again in the coming years.

Watch interview here

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