Arabictrader.com – The famous American investment bank Goldman Sachs (NYSE:) raised its price expectations at the end of this year, especially after geopolitical tensions escalated in the Middle East between Iran and Iran last Saturday, as Iran launched drones towards Israel, which strengthened… Demand for gold in the markets as a safe haven.
In this regard, Goldman Sachs raised its forecast for gold prices from $2,300 to $2,700 per ounce by the end of 2024, and the American bank explained that the recent rise has nothing to do with the usual macroeconomic factors associated with the gold metal.
The American bank added that the continued demand from central banks, including the People’s Bank of China, increases the levels of global gold prices, indicating that the demand for gold as a safe haven is expected to rise depending on the reductions that may occur in federal prices, in addition to the results of the American elections. .
In terms of global market transactions today, Monday, spot contracts for gold metal recorded a noticeable increase by 0.42% and reached about $2,354.17 per ounce.
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