Investing.com: Goldman Lifts Its Gold Year-end Forecast; "Unshakeable Bull Market"
Article by Investing.com
Goldman Sachs has lifted its year-end price target on gold, saying the yellow metal is currently in “an unshakeable bull market.”
“Indeed, despite the market pricing progressively fewer Fed cuts, stronger growth trends and record equity markets, gold has rallied 20% over the past two months,” analysts at the investment bank said, in a note dated April 12.
“The traditional fair value of gold would connect the usual catalysts – real rates, growth expectations and the dollar – to flows and the price. None of those traditional factors adequately explain the velocity and scale of the gold price move so far this year.”
Goldman said the majority of the gold upside since ......