Gold to benefit from a gradual recovery of China from the second wave of COVID-19 infection- says Goldman Sachs.
- The investment bank suggests that China is the world’s top retail buyer of gold and is currently recovering faster than the United States, which should support the retail demand.
- Furthermore, Goldman reaffirmed its target price of USD 2,000 per ounce and citied that gold price could average USD 1,740 per ounce in 2020 while surging ahead to average USD 1,988 per ounce in 2021.
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