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Goldman Sachs Says Gold Could Surge If Fed’s Credibility Damaged
Gold could rally to almost US$5,000 (RM21,157) an ounce if the Federal Reserve’s credibility were damaged and investors shifted just a small portion of holdings from Treasuries into bullion, Goldman Sachs Group Inc said. “A scenario where Fed independence is damaged would likely lead to higher inflation, lower stock and long-dated bond prices, and an erosion of the dollar’s reserve-currency status,” analysts including Samantha Dart said in a note. “In contrast, gold is a store of value that doesn’t rely on institutional trust.” Goldman’s note outlined a range of possible outcomes for the metal, with a ... (full story)
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