"real concerns around the longevity of the US dollar as a reserve currency have started to emerge"

[marmar]

Goldman Sachs expects gold to jump almost 20% from its already record level to reach $2,300 in the next 12 months on rising concerns over the US dollar's global standing as a reserve currency.

Analysts at the bank continue to think that gold has plenty of room to run against a backdrop of rising geopolitical tensions, elevated political and social uncertainty in the US, and a swelling COVID-19 second wave.

"With more downside expected in US real interest rates, we are once again reiterating our long gold recommendation from March and are raising our 12-month gold and silver price forecasts to $2300/toz and $30/toz respectively from $2000/toz and $22/toz," analysts from the bank said.

"Combined with a record level of debt accumulation by the US government, real concerns around the longevity of the US dollar as a reserve currency have started to emerge," analysts said in a note dated July 28. .............(more)

https://markets.businessinsider.com/news/stocks/goldman-sachs-raises-12-month-gold-forecast-2300-per-ounce-2020-7-1029437936#

[empedocles]

1. There have always been concerns about fiat currencies. Bitcoins and gold have not

been viable alternatives, for varying very good reasons, despite hard pro lobbying by anti -government types. So far, the much criticized US Dollar has held up relatively well as a store of value, etc. against all competitors.

Gold prices swing wildly over time. Gold tends to deflate when the economy/credit deflates. Since this economy is deflating, time will tell about Goldman type gold bull 'predictions'.

[Warpy]

2. The dollar is diving because Dumdum is revving up the printing press

to prop up the stock market and keep the peasants quiet and not looking at tapping the super rich or transactions on the stock market for additional revenue to back any of it up, it's just paper. Other countries have tried to do this in the past and ended up with shattered economies, runaway inflation, and unpleasant changes of government.

The dollar's day is over and the sooner people realize that, the better. We can't be the standard if we don't have anything to back it up. And we don't.