Goldman Sachs holding firm with $2,300 gold price forecast as inflation pressures build

Goldman Sachs holding firm with $2,300 gold price forecast as inflation pressures build

Editor’s Note: Get caught up in minutes with our speedy summary of today’s must-read news stories and expert opinions that moved the precious metals and financial markets. Sign up here! (Kitco News) – Opposing forces in the marketplace will provide gold little direction heading into the new year; however, analysts at Goldman Sachs are maintaining their bullish outlook through 2021.

In a report published Friday, the investment bank said that it is maintaining its 2021 gold price target of $2,300 an ounce as the global economy balances between positive news of potential vaccines for the COVID-19 virus and the near-term risks of further economic devastation.

Although Goldman Sachs economists are expecting to see a strong economic recovery in the U.S. and worldwide, commodity analysts Jeffrey Currie and Mikhail Sprogis, the authors of the gold report, said that there is still a “strong strategic case for gold.”

“In our view, the structural bull […]

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