Are the international investment houses now talking about much higher levels for gold prices in the coming days?

Analysts at BOFA Securities estimate that gold prices in the international market could rally to $3,000/oz by the end of 2021 translate into nearly Rs.82,000/10 grams at current exchange rates in the Indian markets. This view is also shared by Goldman Sachs. In fact, Goldman too is putting bets on the yellow metal as the best commodity hedge in place of crude oil. Goldman feels that fall in global growth, expanding central bank balance sheet and a preference for gold ETFs and gold reserves will drive gold to $3000/oz.