The price of gold could continue to grind higher as exchange-traded fund (ETF) inflows are likely to rebound on US late-cycle worries and negative German 10-year real rates, according to analysts at Goldman Sachs.
The investment bank also expects increased purchases by central banks of China, Russia and Kazakhstan strengthen the bid tone around the yellow metal.
That said, analysts have kept three, six and 12-months price target unchanged at $1,350 per Oz, $1,375 per Oz, and $1,450 per Oz, respectively.
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