Goldman Sachs sees gold price at $4,900/oz by year-end, but investors hedging through gold derivatives could drive it even higher - KITCO
Goldman Sachs sees gold price at $4,900/oz by year-end, but investors hedging through gold derivatives could drive it even higher - KITCO
Source: KITCO
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DW NOTE
Goldman's $4,900 target implies another 11% rise from today's $4,423 — modest given that gold has already climbed 24.6% year-over-year and hit $5,318 in January. The real risk is that derivatives hedging becomes a reflexive bid: if institutional portfolios start treating $4,900 as the floor rather than the ceiling, the squeeze could overshoot the forecast by a wider margin than Goldman is pricing in.