Four in five investors expect the price of gold to rise in 2021, while two out of five expect it to gain at least five per cent, according to the Global Palladium Fund.

The fund conducted a survey of investors’ perceptions of precious metal prices. The survey found there’s as much enthusiasm for silver as there is for gold, with a third of respondents predicting silver could gain five per cent this year.

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Specifically when it comes to silver prices, survey respondents attributed their optimism to traditional precious metal considerations, as well as higher demand from renewable energy technology producers. Only a small fraction of respondents expected the price of gold to drop any time soon.

“Our research reveals that many institutional investors and wealth managers have a positive outlook on both gold and silver this year,” said Alexander Stoyanov, the Fund’s chief executive officer, in a press release.

“There’s still much uncertainty in the world, and this leads to increased market volatility, which can make precious metals more appealing to investors as they look to diversify their portfolios.”