Login ID:
Password:
Partner Login
Contact Us : 7066511911

Gold To Rally Towards $1,850 If Virus Lasts Into Q2 - Goldman Sachs

22 Feb 2020 9:01 am
 Comments 0 Comments  |  Comments Post Comment  |  Font Size A A A 

Mumbai (Commodities Control) - Goldman notes that the outlook for lower US yields and weaker equities "creates further upside risks to our gold forecasts with gold pushing towards $1,750 should the coronavirus be contained during Q1".

However, if the virus disruption stretches into Q2, "we see substantially more upside from here - towards $1,850, depending on the magnitude of global monetary policy response".

Adding that "we see such a rally being driven by the continued search for yield, increased demand for portfolio diversification and higher political uncertainty" with gold being "a strategic allocation to protect a portfolio from geopolitical risks such as the current outbreak, de-dollarization and negative real yields".

(Commodities Control Bureau)


       
  Rate this story 1 out of 52 out of 53 out of 54 out of 55 out of 5 Rated
0.0

   Post comment
Comment :

Note : This forum is moderated. We reserve the right to not publish and/or edit the comment on the site, if the comment is offensive, contains inappropriate data or violates our editorial policy.
Name :  
Email :  
   

Top | Post Comment  

Latest Market Commentary
Gas Oil (ICE) – Testing Short-term Support Near $300
Energy – Natural Gas (NYMEX) – Relief Rally Underway / ...
Energy – Crude Oil (May ‘20) – Testing Range Support Ne...
Energy – Natural Gas (NYMEX) – Relief Rally Underway / ...
Energy – Crude Oil (May ‘20) – May Consolidate in a Wid...
more
Top 5 News
Pulses Import Restrictions To Continue For FY 21- Comm ...
Long/Short Quantity Position In NCDEX Chana On 27th Mar...
Swiss Gold Refinery Valcambi Shuts Plant Until 5th Apri...
LME - Warehouse Stock Movements – 30th March
Lockdown Affects India's Edible Oil Demand; Consumption...
Top 5 Special Reports
USD/MYR
USD/CNY & USD/IDR
USD/ARS & USD/BRL—
CRB Index & U.S. Dollar Index
USD/INR (Apr. ’20) – Pullback Underway / Testing a Shor...
Copyright © CC Commodity Info Services LLP. All rights reserved.