Reported 22 days ago
Goldman Sachs projects that gold may experience a slight decline if the Federal Reserve opts for a modest 25-basis-point rate cut this week. However, they anticipate a significant rally in gold prices, potentially reaching $2,700 an ounce by early next year, fueled by increased investments in bullion-backed ETFs. Despite the expected short-term drop, long-term outlooks remain optimistic due to a resurgence in ETF holdings.
Source: YAHOO