Major investment banking company Goldman Sachs (NYSE:) says the price of gold will rise 20% to reach $2,300 before the end of 2022.
The commodity hit new record highs on July 31 at more than $2,000 per ounce, but Goldman believes it still has a long way to go. According to a report cited by Bloomberg, the bank believes the price of gold will surge to $2,300 in the next 12 months — a revised forecast that originally predicted $2,000 — due to concerns over the US dollar’s standing.
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