Gold Rises To Six Year High – 7 August, 2019

Analysts at Goldman Sachs Group Inc. think gold could climb even higher after it hit above the $1,500 mark, believing the precious metal could climb as high as $1,600 over the next six months. On Wednesday, gold climbed 2.4% to $1,510.46 per ounce, its highest since April 2013. The optimism for the outlook of the metal comes after it managed to climb past the banks initial prediction of $1,475. Fears of a global recession as central banks cut interest rates caused investors to flee to the metal, helping it reach price levels not seen in six years.