Financials Nov 25, 2020 10:10 AM (GMT+8) · EqualOcean
Goldman Sachs said the recent correction in gold prices is volatility rather than a turning point, and prices are expected to rise when more evidence of inflation emerges. "But it may take some time, because the market may need to see several strong CPI data in the US, or big changes in oil prices to reflect higher inflation. Until then, gold is likely to continue to face the cyclical pressure of no refluxation, which is likely due to the short-term growth risks faced by developed market economies and the delay of the next round of US stimulus plan. The bank's medium-term bullish view on gold remained unchanged; its 12-month target price of $2300 / oz remained unchanged.

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