Goldman Sachs Sees Gold Higher, Takes A Downbeat Stance On Iron Ore
Portfolio Pulse from Stjepan Kalinic
Goldman Sachs maintains a bullish outlook on gold, expecting a price target of $2,700/oz by early 2025, driven by central bank demand and potential Fed rate cuts. Conversely, the bank has downgraded its iron ore forecast due to oversupply concerns, despite stabilizing demand from China.
September 17, 2024 | 11:53 am
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Goldman Sachs maintains a bullish stance on gold, expecting a price target of $2,700/oz by early 2025, driven by central bank demand and potential Fed rate cuts. The bank also downgraded its iron ore forecast due to oversupply concerns.
Goldman Sachs' positive outlook on gold and its price target could attract investor interest, potentially boosting GS's stock. The downgrade in iron ore forecasts reflects a strategic shift, but the focus on gold is likely to have a more significant impact.
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