- Goldman Sachs forecasts gold could reach $5,000 if Trump’s attempts to undermine Federal Reserve independence triggers an investor flight from bonds, stocks, and the dollar. Separately, labor data remains mixed or weak, and Wall Street thinks a September Fed rate cut is virtually locked in. Global markets are mostly positive in early trading.
President Trump’s war against the Fed’s independence could cause so much damage to the bond, stock, and dollar currency markets that investors might flee further into gold, Goldman Sachs said today in a research note seen by Fortune. This in turn could push the price up to $5,000 per troy ounce. Gold is currently priced at $3,596 on the Comex exchange, up 36% year to date and near its all-time high.
