Gold Price Forecast Goldman Sachs

Goldman holds a 2 300 per ounce price target for gold implying a 22 rally from current levels over the next 12 months.

Gold price forecast goldman sachs. Investment firm nicoya research foresees the price of gold climbing to 3 250 an ounce in 2021. In their gold price forecast published recently analysts at goldman sachs maintained their bullish outlook for the upcoming year setting their price target for the metal at 2 300 per ounce. 3 250 oz gold in 2021.

Indeed this is evident from gold s performance in overall largely bearish commodity market in which its price has remained remarkably high in comparison with other commodities relative to goldman sachs spot commodity index gnx the gold price is at an all time high and about 30 higher than it was at its 2011 peak. If that forecast proves correct it should bring some cheer to the gold bugs as the price has been in a downtrend since early august. We predict gold s price could rise to the 2 200 2 400 area in 2021.

So our gold price forecast represents more of a spike rather than an average gold price. Price of gold fundamental daily forecast gold s fate in the hands of the vaccines. And if gold s current bull run is anything like the last time around.

In our view the structural bull market for gold is not over and will resume next year as inflation expectations move higher the us dollar weakens. The recovery in commodity prices goldman sachs analysts say will actually be the beginning of a. The more than 20 rally in gold year to date is set to continue into 2021 as the structural bull market continues on for the precious metal.

Diminishing gold supply every quarter since 2019 in the face of increasing demand for gold and silver coins from institutional and retail investors is set to push gold prices higher in the coming year. Gold bull market to resume in 2021. Fed toward an.

That s according to goldman sachs who said in a note. The recovery in commodity prices goldman sachs analysts say will actually be the beginning of a much longer structural bull market that could rival that of the 1970s when gold rose 25. Such a bounce would also place bullion at an all time high.