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Goldman Sachs predicted that the price of gold would rise to $ 1,600 an ounce, having surpbaded the $ 1,500 level for the first time in more than six years.
As investors look for a safe haven, the price of gold will hit $ 1,600 an ounce over the next six months, Bloomberg said in a note on Wednesday.
Analysts at Goldman Sachs say that if the escalation of the trade war could raise fears of continued growth, gold could exceed current levels, thanks to a large allocation of exchange traded funds, by the US. intermediary portfolio managers who hold the precious metal.
"Gold ETFs have recently gained momentum with the momentum of 2016, and we believe this momentum will be consolidated in the near term."
Holdings in the Gold ETFs reached their highest level since April 2013, following the decline in global equity markets. The total capitalization of the US stock market fell by $ 700 billion last Monday.
The increase in the price of gold and the decline in the demand for risky badets came after the announcement by US President Donald Trump of a new round of customs duties. on imports from China, worth $ 300 billion.
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