Business Insider: Gold Will Keep Setting Records with a Recession More Likely Than People Think, Goldman Says
Article by Matthew Fox in Business Insider
That's according to Goldman Sachs, who said in a note on Tuesday that gold, even after its 26% year-to-date surge, could zoom past its price target of $3,700.
"We recommend that investors hedge still elevated cyclical recession risk with oil puts and long gold positions," Goldman Sachs' Daan Struyven said.
Beware of a recession
Despite the Trump administration's 90-day tariff pause, "the chances of recession remains unusually high," Struyven warned.
The analyst said that the stock market's sharp rebound since its April low also leaves little upside to be had for risk asset, even if trade relations between the US and China improve.
"The level of policy uncertainty remains very high, businesses and ......