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Goldman says just keep on buying gold

The Market Ear Picture

Goldman: keep on buying gold

Goldman is convinced that higher gold prices are needed. "The combination of strong investment demand, accelerating Central Bank purchases and resilient consumer demand means that a much higher gold price is needed to keep physical gold markets balanced. Moreover, underling bullish drivers of each of the three categories are set to remain for the rest of the year, meaning that the bullish gold price trend is set to continue. We therefore reiterate our year-end price target of $2500" (GS Commodities)

Gold: physical investment demand is the driver