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

22 Feb 2020 9:01 am
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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)


       
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