Goldman Sachs on what's supporting the price of gold. Plus, GS forecasts for gold price.
Goldman Sachs analysts are forecasting gold to 1600USD in 6 months, unchanged from their previous projection.
GS cite uncertainty on the increase due to the trade war, prompting precautionary holding of cash to increase
- this excess saving are supporting gold
- add in central bank as another leg of support
- and funding cost fall (and GS note on this also funding cost decline is not stimulating investment and demand, adding to uncertainty)