Goldman Sachs Expects Gold Ounce Prices to Exceed $2500

The US Goldman Sachs bank expected that the prices of the gold ounces would exceed $2500 this year.

The bank explained that this increase is due to the continued Russia-Ukraine war, and the slowdown of the world economy, alongside the increase in the raw material, and products after the imposing of the sanctions against Russia.

Gold prices registered record-breaking jumps amid the Russia-Ukraine war in six weeks with expectations of increasing the demand for the yellow metal as gold is a safe economic instrument for investments in the light of the decline of international currencies, and unstable performances of markets and stock exchange.

Contributed by: Rana Atef