4 years ago

Goldman Sachs Turns Bullish On Gold

Investing.com
Investing.com
Investing.com - Gold is looking good again to Goldman Sachs (NYSE:GS), which expects the precious metal to outperform in the coming months.Goldman says an rising inflation, interest rates hikes and the increased risk of a stock market correction all make gold a good bet.The firm said research shows that gold has outperformed in four of the past six tightening cycles.The Federal Reserve raised the federal funds rate a quarter of a percentage point last week and is widely expected to do so at least two more times this year. Goldman is among the few firms calling for four rate hikes this year.Gold has traded between $1,300 and $1,370 an ounce this year and is back near its 52-week high of late January. It's up 7.55% over the past 12 months.