2020: Goldman Sachs Sees Gold Soaring 9%

Written by Swiss America

business 163464 640Goldman Sachs sees gold soaring 9% in 2020 -Business Insider
"The price of gold could jump 9% to $1,600 per ounce by the end of March, according to Goldman Sachs. The investment bank stood by its three-month, six-month, and 12-month forecasts in a research note last week.

It highlighted as factors underpinning the price: political uncertainty, recession fears, high household savings, low interest rates, an equities selloff, growth of emerging markets, moderate growth in mine output, robust central-bank purchases, and greater discussion of Modern Monetary Theory, among others. Goldman's analysts said they 'remain optimistic' about gold going into 2020, given investors view it as a safe or 'haven' asset during turbulent times. 'We still see upside in gold as late cycle concerns and heightened political uncertainty will likely support investment demand for gold as a defensive asset.'"