Goldman Sachs has a new blowout forecast for gold, says gold’s role as reserve currency threatened

MarketWatch/Barbara Kollmeyer/7-28-2020

“That juiced the crowd expecting $2,000 an ounce soon, and leads us to our call of the day from Goldman Sachs, which has ditched its own $2,000 forecast and says we’re going to see $2,300 an ounce in the next 12 months.  The bank also lifted its silver outlook to $30 from $22 an ounce.”

USAGOLD note: Goldman ups the ante on both metals listing a number of concerns fueling its bullish assessment led by a potential shift at the Fed toward an “inflationary bias.”  It also raises concerns about the “longevity” of the dollar as the world’s reserve currency.