Goldman Sachs revises gold price forecast higher

Omkar Godbole FXStreet Contributor

Analysts at Goldman Sachs expect the bullish trend in gold to continue on a weaker dollar and elevated geopolitical tensions.

The investment bank now expects the yellow metal to trade at $1,350 in three months from now compared to the previous forecast of $1,325.

Further. the six month and 12-month price forecast has been revised higher to $1,400 and $1,450.

Key points

Falling US jobless rate expected to keep late-rate hike cycle worries elevated and support exchange-traded fund inflows.

European ETF inflows likely to rise, courtesy of economic slowdown and negative real rates.

Weaker dollar and acceleration in GDP growth are expected to boost Emerging market dollar purchasing power and hence gold demand.

Author

Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

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