Previous post Next post

Goldman: 3 Key Reasons Why We Are Bullish On Gold

 

On “Bloomberg Commodities Edge”, Bloomberg’s Alix Steel and Naureen Malik talk with Jeff Currie, global head of commodities research at Goldman Sachs. They discuss Goldman’s bullish stance on gold.

Gold is gaining on mounting speculation China and other central banks will unleash stimulus to counter the economic pain from the coronavirus outbreak, boosting liquidity in the market and devaluing currencies.

UBS are also bullish on gold as a hedge on dollar and geopolitical risk.

Goldman: 3 Key Reasons Why We Are Bullish On Gold

Geopolitical risk.

Many risks including a potential war with Iran and the coronavirus. The pandemic may lead to a drop in Chinese demand in the short term, following by an increase in demand from China (Editors note: and globally)

Dedollarization is “one of the ones that we view as a substantial reason to buy gold”. Central banks are diversifying away from the dollar and buying gold at large and record levels – the most of amount of gold buying since the Nixon era

Negative rates and savings surplus. The global savings glut is seeing excess savings and “a lot of that is being put into gold”

10 Year Gold Price in USD/oz

10 Year Gold Price in USD/oz

- Click to enlarge

The post Goldman: 3 Key Reasons Why We Are Bullish On Gold appeared first on

 

Full story here
Mark O'Byrne
I founded GoldCore more than 10 years ago and it has been my passion and a huge part of my life ever since. I strongly believe that due to the significant macroeconomic and geopolitical risks of today, saving and investing a portion of one’s wealth in gold bullion is both wise and prudent.
Previous post See more for 6a.) GoldCore Next post
Tags: ,

Permanent link to this article: https://snbchf.com/2020/02/obyrne-goldman-3-reasons-why-bullish-gold/

Leave a Reply

Your email address will not be published.

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

This site uses Akismet to reduce spam. Learn how your comment data is processed.