Global Gold - Goldman Expects US$ 1,600 Per Ounce For Gold in 2020
Global Gold - In a recent note, Goldman analysts said the case for diversifying into gold is “as strong as ever”. According to an article by Reuters, published December 9th, 2019, Goldman Sachs has kept its 3-, 6- and 12-month forecasts for gold at $1,600 per troy ounce, expecting investment demand to be supported by fears of recession and political uncertainty.
Goldman Sachs is recommending its investors diversify their long-term bond holdings with gold, citing “fear-driven demand” for the precious metal. We certainly concur with that assessment. While the “everything is rosy and back to normal" bandwagon has gained a growing following lately, we continue to warn our clients of the big picture risks.