Goldman Sachs Sees Gold at $2,000 per ounce

Goldman Sachs has raised its forecasts for gold prices during 2020, according to a recent note, CNBC reported.

The bank sees gold prices at $1,800 per ounce during the next three months, at $1,900 for the coming six months, and at $2,000 a ton for the coming 12 months.

Goldman Sachs further explained that “gold investment demand tends to grow into the early stage of the economic recovery, driven by continued debasement concerns and lower real rates.”

“Simultaneously, we see a material comeback from emerging market consumer demand, boosted by easing of lockdowns and a weaker Dollar.”

The bank expects a per ounce price average of $1,740 in 2020 and $1,988 in 2021.