Post by
thseeker1 on Jul 28, 2020 8:09am
Goldman Sachs, silver outlook to $30 from $22 an ounce.
Goldman Sachs, which has ditched its own $2,000 forecast and says we’re going to see $2,300 an ounce in the next 12 months.
The bank also lifted its silver outlook to $30 from $22 an ounce.
Driven by “a potential shift in the U.S. Fed toward an inflationary bias against a backdrop of rising geopolitical tensions, elevated U.S. domestic political and social uncertainty, and a growing second wave of COVID-19 related infections,” gold’s surge to new highs lately has outpaced gains for real rates and other alternatives to the dollar, said a team of analysts led by Jeffrey Currie.
“Combined with a record level of debt accumulation by the U.S. government, real concerns around the longevity of the U.S. dollar as a reserve currency have started to emerge,” said the team.
One point made by Currie and the team is that hedges against inflation like commodities and stocks are likely far cheaper currently, than maybe in the future when inflation could start to show up. Current debasement — lowering the value of currencies — and debt accumulation “sows the seeds for future inflationary risks despite inflationary risks remaining low today.”
Comment by
mainerisk on Jul 28, 2020 8:58am
If Goldman Sachs says silver will hit $30, you can count on silver going over $75 or more. Of course these large banks control the price of gold and silver. Selling furtures that they do not have or control to keep the price low. These banks will never be able to come up with the "gold and silver" they says that they own.
Comment by
GoldenEra on Jul 28, 2020 3:32pm
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