Goldman on Gold: Time to buy the defensive real asset
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Goldman joins TME in being bullish Gold
TME said that it was time to revive the old safe have asset Monday morning. Goldman joins the call today.
GS: "Get long gold on weaker US growth and resilient EMs. In our view, this combination of slower growth and higher inflation should generate investment demand for gold, which we consider to be a defensive inflation hedge. In addition, we expect continued growth in EM dollar-wealth and a rebound in consumer and central bank demand for gold. As such, we are raising our 12 month gold target to $2150/toz from $2000/toz and are launching a long Gold (Comex Dec 22) trading recommendation" (Goldman Commodities)