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.”
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Gold Price Forecast: XAU/USD consolidates the blistering rally above $1800
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