Gold prices hit $1,829.80 per ounce last week, a nine-year high, before closing the week at $1,801.90 per ounce (see the following chart). The combination of political and economic turmoil in the U.S. should make gold’s safe-haven feature even more attractive going forward. The spread of negative interest rates globally and the pressure on the U.S. dollar’s position as the world’s reserve currency also provide fundamentals that favor gold. Analysts see gold testing its all-time highs of $1,900 per ounce in the near future and possibly moving even higher. According to Barron’s, “Goldman Sachs analysts are more confident than ever that gold will hit $2,000 an ounce.” Barron’s adds, “A scenario in which the U.S. is hit by a second wave of coronavirus cases, while China—the world’s largest retail buyer—recovers strongly is ‘ideal for gold,’ the investment bank’s commodities research team said in a note. The team said it now has ‘even greater conviction’ in its bullish 12-month target for the precious metal.” Rick Andrews is president of Avant Capital Management.