8 April | Gold

Goldman Sachs sees falling gold prices as opportunity to enter long position

Goldman Sachs sees falling gold prices as opportunity to enter long position

Goldman Sachs analysts believe that the recent decline in gold prices offers excellent opportunities for investors. The experts see the sell-off in the precious metal as a chance to enter the market with a long position.

In the view of the bank's economists, the decline in gold prices is due to technical factors. Simultaneously, the organization notes strong medium-term support levels for the metal.

Tariffs imposed by the US administration may negatively affect global economic growth, Goldman Sachs specifies. This strengthens the case for buying gold. According to the bank's forecast, by the end of the year the price of the yellow metal may reach $3300 per ounce.

Another important factor supporting gold is the growing structural demand from emerging market central banks. In addition, the precious metal is not subject to Trump's new tariffs, nor are they expected to be imposed in the future. This gives additional confidence for gold investors, Goldman Sachs emphasizes.

Elena Berseneva MarketCheese
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