Gold prices are being lowered by MPs and this is a danger: Goldman Sachs


The Goldman Sachs strategist said in a new note on Tuesday that in recent weeks, there has been a massive fuel expenditure by gold-fasting price-free MPs and a threat to the US dollar.

The recent surge in gold prices has led to a significant increase in recent real rates such as the euro, yen and Swiss franc and other options in the US dollar. We believe that this disconnect is stemming from a possible shift in the US-Fed against a backdrop of rising geopolitical tensions, US domestic political and social uncertainty, and a growing second wave of Kovid-19 related transitions. Inflationary bias is towards. Real concerns around the longevity of the US dollar as a reserve currency, combined with record levels of debt accumulation by the US government, have begun to emerge, ”explained Goldman strategist Jeffrey Curry.

Gold prices are at an all-time high, around $ 2,000 an ounce (despite the stock market boom from March lows). According to Bloomberg data, gold holds an 18-share total in gold-priced ETFs. The move has spread to gold-focused equities such as Freeport McMoran (24% in the last six months) and of course the SPDR Gold Trust ETF (up to 20% in the last six months).

Shiny gold sticks with a pile of coins as a concept of trade or financial investment and money. Sincerely: Getty

Goldman’s Curry now expects gold prices to reach $ 2,300 an ounce within the next 12 months. Curry for gold prices continues, which other experts have told Yahoo Finance.

“Gold is a huge market, mostly liquid. Peter Grosskopf, CEO of Sponget, said in the first trade at Yahoo Finance at the end of June that with the next downdraft in equities, we will smash gold through $ 1,800 an ounce and be on the way to more than $ 2,000 by the end of the year. It is clear that the call was dead on precision.

Added Grosskoff, “I believe in liberal policies, so I have long been concerned about the central bank’s hand in the economy. I think gold is a natural hedge. “

The goldsmith appears worried, too.

@BrianSozziAnd onLinkedin.“data-reactid =” 38 “>Brian Sozzi Is an editor-at-large and co-anchor First trade In Yahoo Finance. Follow Sozzi on Twitter @BrianSozzi And on Linkedin.

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