Gold Price Forecast: XAU/USD to ‘rebound sharply’ towards $2000 – Goldman Sachs

Analysts at Goldman Sachs expect commodities to "rebound sharply" following their recent sell-offs while targeting gold to reach $2000 over the coming months.

Read: Gold Price Forecast: XAU/USD closes in on $1800 on renewed USD strength

Key quotes

“Commodities to rebound sharply unless there are widespread lockdowns due to the spreading delta mutant coronavirus.” 

“Do not expect widespread lockdowns.”

“Even if they were it delays the rapid bounce back by six to eight weeks, citing past experience.” 

“Forecast gold at US$2,000/oz in 3, 6 and 12-month horizons.”

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Feed news

Latest Forex News

Latest Forex News

Editors’ Picks

EUR/USD hovers around 1.1800 amid unconvinced buyers

The EUR/USD pair hovers around the 1.1800 level after topping at 1.1816. Dull start to the week ahead of US first-tier events spread through the week. Stocks keep challenging record highs.


GBP/USD buyers show signs of life

A better UK coronavirus-related situation took off the pressure on the pound. The UK macroeconomic calendar will have nothing relevant to offer this week. GBP/USD offers a neutral-to-bullish stance in the near-term.


Gold Price bears took the reins Monday to test below $1,800 despite crash in real US yields

Gold struggles to gain traction at the start of the week. XAU/USD stays dangerously close to the 100-day SMA. Key resistance is located at $1,820 in case gold turns north.

Gold News

BTC confirms trend change, while altcoins show impressive gains

Bitcoin price leads a new charge of strength in the cryptocurrency complex, carrying many digital tokens, including Ethereum and Ripple, above persistent resistance levels and towards a legitimate trend change. 

Read more

EU Wrap: Big earnings week, Fed, data, oil, gold, Bitcoin surge

A cautious start to the week as investors prepare for an onslaught of earnings and data, not to mention the Fed meeting on Wednesday. It should be a thrilling week and it comes on the back of a hugely impressive bounceback.

Read more