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Goldman Sachs sees gold at $1,600 in 2020

Goldman Sachs is maintaining its bullish outlook on gold, looking for prices to push to $1,600 an ounce next year, but its big trade for 2020 is oil.

In a report published Sunday, the investment bank said that it continues to like the precious metal as investors look for alternative investment assets.

“Investment deficit creates excess savings, supporting gold. In theory, savings should equal investment, but due to this decline in capex and a rise in precautionary cash balances, a savings surplus is beginning to develop that is supporting gold prices,” the analysts noted in their outlook report.

Goldplat plc (LON:GDP) is an AIM-listed, profitable gold recovery services company with two market leading operations in South Africa and Ghana.

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.