Analysts at Goldman Sachs have raised their 12-month price target for gold to $2,300 per ounce from the previous forecast of $2,000. The yellow metal rose to a fresh record high of $1,981 per ounce on Tuesday, having surpassed the previous lifetime high of $1,921 on Monday. At press time, gold is up 29% on a year-to-date basis. Federal Reserve has pumped massive amounts of liquidity into the US economy over the past four months to counter the coronavirus-induced slowdown. That has already pushed the real or inflation-adjusted yield on the US 10-year Treasury note to a record low of -0.90%. Goldman Sachs expects the real yield to fall further, boosting demand for the yellow metal. “Today the risk is from the debasement of fiat currencies that sows the risk for inflation, and gold is the best hedge against debasement,” the Goldman strategists said. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next ASX 200 Index: Banks up in a down day, investors eye the Fed FX Street 3 years Analysts at Goldman Sachs have raised their 12-month price target for gold to $2,300 per ounce from the previous forecast of $2,000. The yellow metal rose to a fresh record high of $1,981 per ounce on Tuesday, having surpassed the previous lifetime high of $1,921 on Monday. At press time, gold is up 29% on a year-to-date basis. Federal Reserve has pumped massive amounts of liquidity into the US economy over the past four months to counter the coronavirus-induced slowdown. That has already pushed the real or inflation-adjusted yield on the US 10-year Treasury note to a record low of… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
