Goldman Sachs today raised its 12-month price of gold to $ 2,300 an ounce (16% compared to today's prices), which is supported by expectations of a further decline in US real interest rates and a positive climate for the metal that is a safe haven.
The increase in purchases in safe havens pushed gold prices in the immediate trading to rise 27 percent since the beginning of the year, as the precious metal rose to a record high at 1980.57 dollars today.
Goldman Sachs said that the jump in gold prices is driven by a possible shift of the US Federal Reserve towards policies that increase inflation, taking into account political tensions and expectations of high rates of coronavirus infection.
"We have long held that gold is the currency of last resort, especially in an environment like the current environment where governments devalue their currencies and push real interest rates to their lowest levels ever," Goldman Sachs said.
He added that real concerns had begun to emerge about the continuity of the US dollar as the reserve currency.