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Will gold’s strong performance from 2020 roll over into 2021? Many analysts think so. We have three articles today on gold’s forecast for the next year.
You will also find breaking news on the U.S. dollar, and a report out of Johannesburg on Rhodium.
Let’s dig in…

Price
Rhodium Goes on Upward Trek, Breaks $20K
Reporting from Johannesburg, South Africa - RHODIUM has breached the $20 000 (R304 400) an ounce mark for the first time on record, underscoring demand stimulated by the stringent emissions levels. Rhodium, the precious metal that removes fumes from gasoline car exhausts, rose as China 6 emissions standards set in.
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Latest News
Dollar Maintains Gains But U.S. Economic Data Spoils Investors’ Enthusiasm
The dollar held late-week gains on Monday as softening U.S. economic data and rising coronavirus cases turned investors cautious. Against a basket of currencies =USD the dollar hovered around a one-month high of 90.887 hit in early trade and the mood also supported the safe-haven yen against other majors. The euro EUR=EBS eased slightly to touch a six-week low of $1.2066 and the risk-sensitive Australian dollar AUD=D3 slipped 0.3% to a one-week low of $0.7679.
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Price
[VIDEO] We Could See Silver Go to $38 in 2021
Craig Hemke from TF Metals Report forecasts $38 silver and $2300 gold in 2021. He predicts the Federal Reserve will lower rates, which will be bullish for metals. However, he expects 2021 to be a wildly unpredictable year like 2020 and extremely volatile for metals. Craig is expecting "out-sized gains" for mining stocks.
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Commentary
Will Gold Get Back to Those Wonderful Highs Again in 2021?
Few markets over the past year have seen more volatility than precious metals. After setting all-time highs, gold managed to finish the year out strong. With the New Year now in full swing, analysts are looking to see where the yellow metal will finish in 2021. Gold continues to have a lot of appeal in 2021 with Covid-19 still spiking across and hindering the world's leading economies. These disruptions coupled with increased risk aversion in the short-term help buoy gold's prospects. On the flip side, Pfizer vaccinations are already being administered with Moderna now entering this process. Unfortunately, herd immunity is months away and optimism surrounding the vaccines have already been priced in.
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Stock Market
ETFs Backed by Gold Chart Record Inflows During 2020
Gold-backed ETFs recorded record net gold inflows, pushing holdings globally to record levels in 2020. On net, ETFs globally added 877 tons of gold last year worth about $47.9 billion. Gold holdings rose by over one-third, ending the year at a record 3,752 tons, according to data released by the World Gold Council. Gold ETFs added nearly 231 more tons in 2020 than they did during the previous record year of 2009 (646 tons). Every region registered significant growth in assets under management (AUM). According to the WGC, AUM by gold-back ETFs globally ended the year higher than the foreign reserve holdings of any central banks except for the US and only 15% below the portion of reserves that the US stores at Fort Knox.
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Commentary
Will Gold’s Dominance from 2020 Continue This Year?
No seasoned investor would ever ask for proof of gold’s credibility as the safe haven asset in times of crises. In fact, gold prices during 2020—an otherwise turbulent year for the economy— further buttress its safe haven status. In 2020 gold prices rose by an annual 25%, and even hit a historical high of $2,067.15 per ounce on August 6. According to London headquartered World Gold Council (WGC), despite dropping 12% in March last year, when markets were rocked by the onset of the Covid-19 pandemic, gold recovered to finish the year among the best-performing assets, despite many stock indices reaching or surpassing all-time highs.
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