Here at GoldSilver we’re not huge fans of commercial banks. Deceptive practices, outrageous fees, viewing customers as prey instead of partners.
But they do control enormous amounts of capital, so keeping an eye on where they stand vis a vis the gold price is worth monitoring.
So, presented here without further commentary, is a sampling of current institutional views on gold:
Goldman Sachs
“Goldman Sachs says it is bullish on gold[1] for the first time in five years, as signs of an uptick in inflation and the ‘increased risk’ of a stock market correction should support prices for bullion.
"Our commodities team believes that the dislocation between the gold prices and U.S. rates is here to say," Goldman Sachs says.
JPMorgan Chase
“Not surprised if gold surpasses the $1,700/oz target[2] set for next year. Bullishness is related to the fact that US' expansionary phase is in the late cycle. Gold has historically rallied even after business cycle starts to turn.
And also rallied even if the US economy starts to fall into recession. Dollar strength is temporary. At some point, we'll see a catch-up recovery in Europe and Japan. The dollar will start moderating and a weakening dollar will support metal prices.”
Credit Suisse
"Analysts said their bullish gold view for $1,400 gold[3] by the fourth quarter is based on expectations that U.S. real rates will surprise to the downside, U.S. dollar strength will wane, a dovish central-bank approach to future monetary policy, continued robust Chinese investment demand, and an elevated probability of a disruptive geopolitical event."
Deutsche Bank
“Let us be...