One of the most traded commodities on this planet is gold. It is used exclusively in various industries. From ancient times, this yellow metal has also acted as a store of wealth. Due to the global pandemic in 2020, the financial world was not active to its full potential. However, according to experts 2021 is going to be a buyer friendly year. Many shoppers store this precious metal and then resale it at some profit. This might sound interesting that despite so much economic turmoil, gold traders were able to make an enticing profit in the last quarter of 2020.The gold price trajectory
After the outbreak of pandemic, government, authorities and business leaders took several steps to control the economic situation. One step was to inject excess liquidity to boost the growth. Many investors simply turned towards gold because it is seen as a safe haven. Currently, the price of gold is Dh 6834 per ounce in the market.Hopes on 2021
Most growth centric businesspersons, investors and traders make plans in advance. Analysts and trend watches have made an opinion that investors should not favor riskier assets. For a long time, gold is seen as a safe-haven. On multiple occasions, this yellow metal has helped investors to make huge profits. If there is a drop in the price of gold, then surely 2021 is going to be a buyer friendly year. Hence, gold buyers are eager to purchase this yellow metal due to demand driven rush.The favorable image of this precious metal
According to trade analysts if the pandemic continues for some more time, gold prices are likely to go up. The buyers will have to stock gold by purchasing gold bars, coins, jewelry because it has become a preferred medium of investment. The investors are not likely to shift towards other riskier assets because gold enjoys a global favorable outlook.Dollar and gold prices
It is very clear that in 2021 investors will keep their focus on gold. Most of the central banks are determined to keep their interest rate. This they are doing with the intention of injecting more liquidity. As the installments of US stimulus packages are being released in the economy, the dollar is weakening. When the dollar is weak, gold prices automatically push up. Hence, more and more customers are planning to stockpile gold.Gold trading has become much easier due to advanced technology
Despite serious disruptions on a global level, the demand for gold is constant in the market. Most investors want guaranteed return on their investment. Such factors affect the price of the gold. The super strong value and ubiquitous acceptance makes gold a preferred choice of the investors. Thanks to advancing technology that online gold trading has become a reality. Now, you can effortlessly make gains with personally possessing the metal in a physical state.
Following benefits of online gold trading has successfully attracted the attention of buyers: