Loading ...Goldman Sach’s head of commodities research Jeff Currie does not expect an early recovery in long-cycle investment and therefore prices of industrial metals due to a structural decline in demand from China, but he is very bullish on the gold price.
Speaking on Bloomberg Surveillance, Currie says gold will benefit from strong central bank buying and the wealth effect in India and China due to strengthening local currencies.
On top of increased physical demand in the two top gold markets, Currie says “recessionary fears are raising physical demand for gold” and central bank buying “alone” will push the price of gold to $1,425 an ounce.
cont. http://www.mining.com/goldman-says-gold-price-will-hit-6-year-high-2019/