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Goldman Sachs looking for US$2,000 for gold. Have a bullish outlook on commodities.

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Goldman Sachs are looking for commodities to “rebound sharply” following their recent sell offs. 

  • GS caveat their outlook by saying unless there are widespread lockdowns due to the spreading delta mutant coronavirus 
  • GS do not expect widespread lockdowns
  • Even if they were it delays the rapid bounce back by six to eight weeks they say, citing past experience 

On gold, GS are forecasting US$2,000/oz in 3, 6 and 12-month horizons (this not an especially new forecast from GS, more a reiteration). 

Goldman Sachs  

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