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<Research>G Sachs Views Current Gold Price as Uncertain Entry Pt, Expects Yr-End Price USD5,400; Silver May Remain Volatile
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Amidst geopolitical tensions last week and an upsurge in Japanese government bond yields before the weekend, there may be a spike in safe-haven demand, bringing gold prices to above USD5,000 per ounce, Goldman Sachs said in a research report. These concerns are still evolving, and Japan's policy uncertainty may persist until the February 8 election, keeping safe-haven demand elevated. For technical investors, Goldman Sachs viewed the current gold price level as an uncertain entry point. If the situation de-fuses, it may cause a temporary pullback in gold prices. But if risks escalate further, it could support the entire gold price or push it higher again. In the long run, gold prices are expected to maintain an uptrend given strong buying from EM central banks and stimulated investor demand when the Fed eases policy. Under base case, the broker still expected gold prices to reach USD5,400 per ounce by December this year. Silver prices have shot up 51% YTD, and the broker anticipated that extreme price volatility in silver will continue, advising investors with low tolerance for volatility to remain cautious. AASTOCKS Financial News Website: www.aastocks.com |
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