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French Bank Société Générale forecasts strong Q1 for gold

The French bank Société Générale is expecting gold to continue its bull run well into the start of the New Year. It expects gold to make gains for the next several months, due to persistently high inflation.

The bank’s analysts have called for gold prices to average £1,451 ($1,950) between January and March 2022, saying in their new price forecast issued this week, “The Fed seems to be reluctant to increase interest rates any time soon, this combined with high inflation create the perfect mix of negative real rates for gold.

“For 2022, we expect a total 300t inflow into gold ETF, mostly focused on the first half of the year and inflation risk will still be in the spotlight. This will be enough to significantly drive gold price… In a world becoming more multipolar and with the U.S. debt ballooning, the U.S. dollar as a reserve currency is losing credibility and central banks are keen to diversify away from it, by building up gold reserves.”

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