Gold seen rising to US$1,350 per ounce in 12 months

  • Economy
  • Tuesday, 04 Dec 2018

SINGAPORE: Gold exchange traded fund (ETF) inflows are expected to expand in 2019 driven by late-cycle demand for an alternative portfolio diversifier, according to Goldman Sachs Group Inc.

The price outlook for 2019 was maintained at US$1,250/oz over three months, US$1,300/oz over six months, US$1,350/oz over 12 months, bank says in note.

“Prices seen gaining on ETF demand, central bank buying. More and more central banks are entering the gold market for the first time since 2012,” bank says.

Spot gold at US$1,231.58/oz, down 5.5% YTD.

Global bullion holdings in ETFs last at 2,143 tons: Bloomberg data - Bloomberg


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