FXStreet reports that strategists at OCBC Bank expect the yellow metal to trade above $2,000 from Q2 onwards as markets divert their attention towards excess liquidity in a world that is on its way to being inoculated from the virus.

“While rising risk sentiment may prove to be an early headwind for gold’s allure as a safe-haven asset, the triple combination of a weak dollar, low yields and rising inflation expectations should continue to drive gold higher.” 

“We expect gold to continue rising through the year and trade above $2,000/oz from Q2 through Q4 2021.”

Global oil demand is still below 6-7 million bpd pre-crisis level

Expecting 5-6 million bpd of oil in additional demand next year

We aim to recover oil production as global oil market recovers

OPEC+ deal could be adjusted if oil market recovers quicker than expected