Gold Price Forecast: XAU/USD to ‘rebound sharply’ towards $2000 – Goldman Sachs

Analysts at Goldman Sachs expect commodities to "rebound sharply" following their recent sell-offs while targeting gold to reach $2000 over the coming months.

Read: Gold Price Forecast: XAU/USD closes in on $1800 on renewed USD strength

Key quotes

“Commodities to rebound sharply unless there are widespread lockdowns due to the spreading delta mutant coronavirus.” 

“Do not expect widespread lockdowns.”

“Even if they were it delays the rapid bounce back by six to eight weeks, citing past experience.” 

“Forecast gold at US$2,000/oz in 3, 6 and 12-month horizons.”