17:55 - 8.02.2022

---

February 8, Fineko/abc.az. Goldman Sachs strategists stated that slowing economic growth and rising inflation increased investment demand for gold in 2022, raising the 12-month forecast for gold prices from $2,000 up to $2,150 per ounce.

ABC.AZ reports that noting that gold has shown good results against the backdrop of rising interest rates in the U.S., contrary to the general expectations of investors, Goldman Sachs strategists stressed that gold prices will be supported by a slowdown in economic growth in the U.S. and an increase in the purchasing power of developing countries.

Stressing that gold is an effective means of protection against geopolitical risks, strategists said that this protection may be weaker if geopolitical risks do not have direct impact on the US economy.