Goldman expects gold at $1,600 per ounce in 2020 on fear driven demand

From reuters.com

Goldman Sachs has kept its 3, 6 and 12 month forecast for gold at $1,600 per troy ounces, saying investment demand will be supported by fears of recession and political uncertainty. Gold has gained about 14% so far in 2019, on track for its biggest annual rise since 2010, but is down about 6% from a six-year peak of $1,557 an ounce in early September. Goldman, in a note dated Dec. 6, attributed this fall to rising global risk appetite on an easing in U.S.-China trade tensions and a strong U.S. labor market. However, “without a major growth acceleration, recession fears are likely to remain elevated supported by a ... (full story)