The investment banking giant is predicting $2,500 this year!
Goldman Sachs, the multinational investment banking firm, has raised its 2022 year-end gold price forecast to $2,500.
The company explained that increasing prospects of a recession could power the move. It noted that inflation is likely to remain an important factor in the gold price for the rest of this year.
Goldman Sachs explained, as we have repeatedly, that gold has no liabilities. It is not dependent on someone else’s promises or performance but is a monetary asset in its own right. This is especially important in times of economic turmoil. Of course, that descsription only refers to physical gold in your possession. The safety and assurances that most investors seek from gold is not part of investments in “paper” gold, such as gold shares, ETFs, commodity contracts, or promissory notes.
Gold Sachs year end target price of $2,500 represents an increase in the second half of this year of of more that 37 percent from the recent gold price.
Meanwhile, Metals Focus, the prestigious London-based independent precious metal research consultancy, reports that the US continues for second year to be the largest destination for Swiss silver bullion. It says that shipment reflect the “almost insatiable demand” in the US for retail investment products.
Prepare yourself for more Bidenflation and the second half or 2022. Speak with us at Republic Monetary Exchange today about wealth preservation and profit with gold and silver.