Gold Price Forecast: XAU/USD could rise to $2000 by end-2021 – Goldman Sachs

Dhwani Mehta FXStreet

Analysts at Goldman Sachs said that gold price still has room left to rise to the $2000 mark by the end of this year, in its latest note.

Key quotes

“See XAU/USD moderately higher amid a weaker USD and emerging market demand recovery.”

“For gold to move materially higher though, there has to be a general risk-off event which will trigger demand for defensive inflation hedges such as the return of inflation worries.”

Gold behavior after the bounce

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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