Goldman Sachs and Bank of America Predict Gold Price Amid Market Fear Caused by Geopolitical Instability: According to a Report
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Banking Institutions Set Gold Price Targets Amid Market Volatility 📈👑
Financial heavyweights Bank of America and Goldman Sachs have upped their gold price forecasts as geopolitical risks and economic uncertainties escalate. Check out the details below!
Bank of America predicts a gold rally to $4,000 per ounce over the following 12 months, a significant increase of more than 17% from its current level. More from Reuters
Goldman Sachs, on the other hand, expects the precious metal to reach $3,700 by year-end and $4,000 by mid-2026, driven by robust central bank demand, ongoing economic uncertainty, and inflationary pressures. More insights from CNBC
As of writing, gold is trading at $3,395, up about 30% year-to-date, but slightly down from its April all-time high of $3,500.
Gold prices are surging due to heightened fears of a broader Middle East conflict and increasing geopolitical scares, according to Daniel Pavilonis, a senior market strategist at RJO Futures. Read the report by Reuters
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- Amidst the gold price surge driven by geopolitical risks and economic uncertainties, cryptocurrency investors might consider diversifying their portfolios to include altcoins as well, as they seek attractive opportunities outside the traditional finance sector.
- As blockchain-based technologies continue to disrupt the financial landscape, traditional finance institutions such as Gemini and Auros are exploring innovative solutions like BTC-backed money, indicating a growing crossover between cryptocurrency and traditional finance.
