A survey predicts increased gold prices to trade at $2,021 per ounce in 12 months.

Gold’s demand is driven by geopolitical tensions, macroeconomic uncertainties, and global central bank purchases.

The World Gold Council believes the metal’s potential to diversify portfolios is supported by a breakdown in the correlation between equities and bonds.

However, gold-watchers may be pessimistic in the short term, with Jackson Hole central bankers’ comments providing interest rate hints.

London spot gold rose 0.3% to $1,902.52 an ounce.