FP/wire say Goldman sees gold rallying to $4.9K an oz
2026-01-06 08:08 ET – In the News
The Financial Post reports in its Tuesday edition that gold and silver rose as investors considered increased geopolitical risks after the U.S. captured Venezuelan leader Nicolas Maduro. A Bloomberg dispatch to the Post reports that spot gold rose 2.3 per cent on Monday, exceeding $4,430 an ounce, while silver gained 5 per cent. President Trump stated that the U.S. plans to “run” Venezuela after ousting Mr. Maduro, seeking “total access” to the country and its oil reserves. Gold is fresh from posting its best annual performance since 1979. Some leading banks forecast further gains in gold this year, especially with the Fed expected to deliver additional interest-rate reductions and Mr. Trump reshaping the U.S. central bank’s leadership. Goldman Sachs said last month that its base case was for a rally to $4,900 an ounce, with risks to the upside. Adding further support to precious metals, the U.S. economy is facing long-term risks posed by mounting federal debt, according to a panel of economic luminaries speaking Sunday. Former treasury secretary Janet Yellen said preconditions are strengthening for fiscal dominance, whereby the size of debt prompts the central bank to keep rates low to minimize servicing costs.
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