Gold Surges amidst Trade Tensions and US Debt Fears, Goldman Sachs Remains Bullish
Key Phrases:
* Gold futures
* Goldman Sachs
* US tariffs
* Tail risks
* Tariff escalations
* Federal Reserve
* Trade war
Main Points:
* Gold futures hit new records on Friday, driven by potential US tariffs against Mexico and Canada.
* Goldman Sachs analysts maintain their bullish outlook on gold, citing its diversifying role in investment portfolios during market uncertainty.
* Tariff escalations and concerns over US debt are seen as major risks that could further boost gold prices.
* Gold futures rose above $2,860 per ounce, marking its fifth consecutive week of gains.
* Despite the Federal Reserve's decision to hold rates steady, gold remains attractive due to strong demand from central banks and inflows into gold ETFs.
* Goldman Sachs reiterates its recommendation to invest in long gold, forecasting a price target of $3,000 per troy ounce in Q2 2026.