"Goldman Sachs" increases its expectations for the price of gold up to $ 3100

By the end of the year, Goldman Sachs Bank increased the target price of gold to $ 3100 an ounce due to the purchases of central banks and the flow that highlighted the boxes returned by the alloys, the Hamas Wall Street of the metal. Analysts Lina Thomas and Dan Strewvin wrote in a memorandum that the average demand of central banks could reach 50 tons per month, exceeding previous expectations. They added that if the uncertainty about economic policies, including customs tariffs, can be continued, gold can reach $ 3300 per gram due to the high speculation centers. The last number involves 26%annual profit, according to “Bloomberg” accounts. Also read: The price of gold wakes up from its hibernation and is over $ 2900 for a gram. The precious metal rose this year and records consecutively in a seven week ups in a seven -week UPS, based on the increase in its record last year. The sustainable progress of the yellow metal has been powered by the increase in the purchases of the central banks, a series of interest rate discounts by the Federal Reserve, and recently the increasing investors’ concerns about customs tariffs of US President Donald Trump, which caused a tremor in the market. The faded policy increases the metal, Thomas and Sevin wrote: “If the high uncertainty continues with the policy – including the concerns of customs definitions, the speculation centers can pay gold prices to $ 3,300 per gram by the end of the year.” In addition, the increasing fear of inflation and financial risks “can buy central banks – especially those that maintain large reserves of US Treasury bonds – more gold,” they said. The most optimistic expectations – which came after Goldman withdrew at the end of the year last month at the end of the year – in the aftermath of the official sector purchases, which was estimated at 108 tonnes in December, when China acquired 45 tonnes of it. On the other hand, the two analysts said that there would be a ‘gradual reinforcement’ to own the boxes that circulated on the stock exchange due to two reductions in the interest of the Federal Reserve. The immediate gold price was in the latest transactions near $ 2909 an ounce, after setting a record of more than $ 2942 last week.