The gold price is currently floating more or less listlessly around the previous day’s closing price. Silver also seems to be looking for new impulses after the rally in recent days. But if it goes according to the analysts of the US bank Goldman Sachs, it should soon go uphill with the precious metals. They are raising their gold and silver forecast again.
No new reasons, probably
Goldman Sachs sees gold rising to $ 2,300 and silver to $ 30 over the next twelve months. So far, analysts around Jeffrey Currie have assumed $ 2,000 in gold and $ 22 in silver. The reasons for most investors should not be new: The analysts assume that real interest rates will continue to fall and that this will create an ideal environment for precious metals. In addition, the new tensions between China and the USA made investors turn more and more to the safe haven of gold. In addition, there is a weaker US dollar, which has lost significant value in recent days. Goldman Sachs believes that even fund managers are now using gold as a hedge against the US dollar.
The bulls are holding on to gold
The fundamental framework certainly speaks for further rising prices in the coming months – probably even years. Even if consolidation is necessary in the short term, the bulls seem to be on the verge of claiming the $ 2,000 mark first. In the December Gold Future contract, the gold price jumped briefly above this magical mark yesterday in Asian trading, but then had to give up again.