$2,300 - Citibank, Goldman, ANZ30 Nov 2020 11:45
In their gold price forecast published recently, analysts at Goldman Sachs maintained their bullish outlook for the upcoming year, setting their price target for the metal at $2,300 per ounce: “In our view, the structural bull market for gold is not over and will resume next year as inflation expectations move higher, the US dollar weakens and emerging-market retail demand continues to recover.
Citibank is also optimistic about the commodity’s future. In their latest gold price prediction, the bank’s analysts said they see the metal rising to $2,200 per ounce in three months and to $2,400 per ounce in six to 12 months. “We lift the 2021E base case gold price forecast by $300 per ounce, versus our early July update, to a record $2,275 per ounce,” they added.
In their note on the gold price in 2021, analysts at Australian bank ANZ predicted the metal to rise to $2,200 per ounce by the end of 2020 and then hike further to $2,300 by early 2021. However, this valuation will likely mark a peak in the commodity’s rally.
https://capital.com/gold-price-forecast-2021-and-beyond