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Goldman Sachs lends its weight to gold with strong show of confidence

Just a few weeks after signalling its confidence in gold, Goldman Sachs has again thrown its weight behind the precious metal. In one of the strongest votes of confidence yet, the investment bank has gone as far as to say that gold is its preferred commodity, signalling that there is much to come for this asset.

The Goldman Sachs global head of commodities, Jeffrey Currie told Bloomberg that gold was his preferred commodity right now, explaining, “There are a lot of reasons to still hold gold. Foremost is that you are still seeing the debasement effects of all the stimulus measures.”

Currie’s comments come a few months after Goldman Sachs publicly endorsed gold, revising its price forecast up to $1800 by the end of the year in its March briefing.

With the bank doubling down on that with its comments this week, you can buy now with full confidence.

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