Gold prices will rise by almost 10%, which is what Goldman Sachs analysts expect in 2020. The target of the large investment bank is the level of $1,600 per ounce.
Among the main drivers are political uncertainty, as well as a drop in risk appetite among investors due to the U.S.-China trade war. Against this background, gold will act as a protective asset.
Recall that since the beginning of 2019, the value of the precious metal has grown by more than 14%