Goldman Sachs says that we are entering a sustained upside for gold as supply chain issues continue around the world, the U.S. dollar weakened, and the macroeconomic climate continues to favour the precious metal.
The bank’s latest briefing note is bullish for gold throughout 2023, as it doubles down on previous predictions of a commodities super cycle. The bank said, “Gold, in particular, is likely to be on a cusp of sustained upside as de-dollarisation is very bullish gold, at a time that the Fed is likely to increasingly shift towards growth concerns slowing its rate hike path allowing ETF holdings to stabilise. We believe a sustained inflection in the USD provides an ingredient for a fairly significant upside in commodities.”
Don’t wait until prices increase further before you add more gold to your portfolio.
