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Goldman Sachs are not alone in their expectations that gold will now move sharply higher. Analysts from DailyFX are also strongly pro-gold and are predicting pricing around £1,429 ($2,000) in the immediate short term thanks to current market conditions. They say inflation fears and data around employment figures are all giving a boost to the yellow metal, with the expectation that gold will hit its all-time high of £1,578 ($2,075) once again before the end of 2021.

DailyFX’s Warren Venketas said, “Inflation is a big one for me. If we see inflation expectations outperforming the move in yields. That’s what I’m looking for at that year-end rally. And it is in the cards. I am very bullish at this point. There is a very strong case for the year-end gold rally. That second-round impact of the price increases will last into the second half of 2023. Inflation is here to stay for the next year or so. It is transient but it will be more prolonged than initially forecasted… That is bullish for gold because historically we see gold tick higher when inflation is more persistent as opposed to short term.”

While gold has been less bullish in 2021 compared with the pandemic-fuelled highs of 2020, it has a very strong upside momentum and will end the year on a high, overtaking most assets.

Venketas added, “Gold has been playing second fiddle to a lot of the other commodities. It can catch up. There are a lot of fundamental factors that we’ve gone through that are favouring further upside.”

Don’t delay, buy now before prices spike to record levels.

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