Escalating trade tensions and concerns over the sustainability of the U.S. fiscal balance sheet could help ignite a fire under the price of gold in the coming year, according to a study by Goldman Sachs.
The precious metal hit an intraday all-time high of $2,790 of at the end of this October, when the World Gold Council warned in its quarterly demand trend report that the market had succumbed to FOMO—or fear of missing out. It has since pulled back over the course of November, and is trading at around $2,600 currently.
