Goldman Sachs raised its gold price forecast

Experts from the American investment bank Goldman Sachs have amended their projection for gold prices in 2022 upwards. They now assume that this precious metal will increase in price to $2,150 per troy ounce, while their prior plan indicated the assessment of this asset at $2,000. The main component pushing gold prices up, they say, is high inflation, which is expected to persist for quite a long term. Growth in gold prices will also take place against the backdrop of a slowdown in the US economy and an increase in the purchasing power of emerging markets. At the same time, Degussa analyst Torsten Polleit expects an ounce of gold to average $1,965 this year. According to his forecast, prices during the current year will vary from $1,700 to $2,280 per ounce. The expert does not rule out that gold will return to a long-term uptrend. At Friday’s auctions, gold fell in price by 0.55% – to 1827.3 dollars per ounce.

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Arseny Kudrin

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