Goldman Shared Its Target For Gold

Goldman Shared Its Target For Gold Goldman shared its target for gold for the upcoming year. Goldman Sachs, thinking that the reflation story will support gold prices in 2021, stated that the 3, 6 and 12-month target is $ 2,300. Goldman Sachs Group Inc. estimates that gold prices may fluctuate within a certain band for the next few months. On the other hand, "The story of reflation in 2021 will be supportive for gold by lowering short-term real interest rates, even if long-term ones find it difficult to fall." According to the Goldman report, which draws attention to the fact that gold is taken as a hedge against the depreciation of the US dollar, the US investment bank expects the precious metal to be more sensitive to short-term real interest rates. On the other hand, in the report, which emphasizes that there is a recovery in the consumer demand of large developing markets, the bank states that this trend is expected to continue in 2021. The bank keeps its 3, 6 and 12-month targets stable on $ 2,300. Ounce of gold traded in the spot market for $ 1,879 at noon on Friday.