On top of being bullish on gold prices this year, Goldman Sachs’ favorite commodity play at the moment is “long gold.”
Gold has a lot of potential and can hit $1,450, according to Jeffrey Currie, global head of commodities research at Goldman Sachs.
When asked about his top play on commodities during an interview with Bloomberg this week, Currie replied: “Long gold, we see that one with the most upside.”
The reason for such an optimistic outlook on the yellow metal this year includes recession fears, gold’s wealth-effect, and central bank buying, according to Goldman.
KEFI Minerals plc (LON:KEFI) is focused primarily on the advanced Tulu Kapi Gold Project development project in Ethiopia, along with its pipeline of other projects within the highly prospective Arabian-Nubian Shield.