Last week Goldman Sachs revealed its latest projection for the gold price
“In a report published Thursday, the bank (i.e. Goldman Sachs) said that it is raising its 12-month price forecast to $2,150 an ounce, up from its previous target of $2,000. The bank also recommends buying December 2022 gold futures.”
Goldman Sachs repeated projections for a future gold price at $2000 oz. or better have come after the gold price exceeded the expected target, rather than before. And the pattern is similar to that which occurred after the post-2011 gold price peak of $1895 oz.
Caledonia Mining Corporation plc (LON:CMCL) is a profitable cash generative gold producer with a strong growth profile, Caledonia’s primary asset is the Blanket Mine in Zimbabwe.