Gold prices could fall sharply

This is a US news story, published by Yahoo Finance, that relates primarily to Morningstar news.

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gold prices

Insider

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Entertainment

Why an analyst sees the record-setting gold rally headed for a 38% crash in coming years

Summary

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83% Informative

Morningstar 's Jon Mills says gold prices could fall to $ 1,820 an ounce over the next five years .

That implies a 38% drop from its record high of over $3,000 and would wipe out its gains over the past 12 months .

Gold prices have soared this year due to geopolitical uncertainty, a more challenged outlook for the US economy, and expectations for higher inflation.

This week , Bank of America raised its gold forecast over the next two years to $ 3,500 an ounce, assuming investment in the metal increases by 10% . Goldman Sachs also raised its forecast, predicting that gold could rise to $ 3,300 by the end of the year . Read the original article on Business Insider .

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Informative language

Neutral language

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informal

Language

English

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not offensive

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not hateful