Gold to $1800?
Thursday, Feb 27, 2020 07:12 by InvestingPie

Goldman Sachs Group Inc. boosted its gold forecast to $1,800 an ounce as the coronavirus, depressed real rates, and increased focus on the U.S. election continue to drive demand for the metal as a haven.

The bank raised its 12-month projection by $200, and said “in the event that the virus effect spreads to Q2, we could see gold top $1,800/oz already on a 3-month basis.” Spot gold, which is up more than 8% this year, traded at $1,651.70 an ounce on Thursday.

The bank expects prices to climb to $1,700 an ounce in three months, and to $1,750 in six months. It previously forecast $1,600 for both time frames. Goldman also raised its silver forecast.

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Very informative
05-03 04:23 by Liam
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