InvestorQ : How do you see gold prices moving from here as Goldman has a target of $2000?
Dawn Cherian made post

How do you see gold prices moving from here as Goldman has a target of $2000?

Answer
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Dilmini Mercia answered.
3 months ago


Goldman Sachs raised its gold price forecast to $200/oz on 19 June on currency debasement fears and economic uncertainty. In addition, Goldman also believes that a weaker dollar could boost purchasing power of major gold consumers. Goldman Sachs expects gold prices to remain buoyant till Fed gives hints of withdrawal of monetary policy support.

Normally, lower interest rates and widespread stimulus boosts demand for bullion as gold is seen as a hedge against inflation and currency debasement. Spot gold prices were trading around $1,730 an ounce on Friday.