On Thursday, February 24, Beijing time, Putin announced the "deployment of troops", the whole of Ukraine entered a state of war, and safe-haven funds poured into the gold market again. Gold futures surged $30, breaking the $1940 mark, a 14-month high.

The gold sector is also expected to be the best performer in the stock market this month. As of Feb. 18, the s & p composite gold index rose more than 14% this month, replacing the s & p energy index dominated by oil and gas companies as the top yield, according to the data.

In addition, gold sector-related funds are also constantly being raised by funds. The largest gold ETF in the world$SPDR Gold ETF (GLD.US) $Positions have risen by more than 50 tonnes since hitting a 20-month low in December.

Will gold and its related stocks and ETF follow the gold price and maintain the current rally? There is a high degree of geopolitical uncertainty and Wall Street analysts have different views on the future trend of gold prices. The bullish Goldman Sachs Group believes that by the end of 2022, the annual increase in gold ETF holdings will increase to 300T, with the target price of gold reaching $2150, while UBS points out that the current upward momentum is short-lived. By the end of 2022, the gold price will fall to $1600 per ounce.

Goldman Sachs Group: raise the gold price target for the next 12 months to 2150 US dollars.

Jeffrey Currie, head of commodities research at Goldman Sachs Group, recently wrote that gold has historically tended to respond to geopolitical risks that directly affect the US and that gold will clearly become the "currency of last resort" as tensions rise in Ukraine.

On the other hand, although there is a strong negative correlation between the gold price and the real yield of US debt, the negative correlation between the gold price and the US real interest rate tends to fail in the interest rate hike cycle. Because "the market tends to pay more attention to the impact of interest rate hikes on economic growth, and under such concerns, the safe-haven nature of gold will be highlighted."

Based on this, Goldman Sachs Group said, "by the end of 2022, the annual increase in gold ETF holdings will increase to 300t, and with emerging markets' nominal GDP denominated in dollars expected to grow by 10 per cent, we have raised our gold price target to $2150 over the next 12 months." Goldman Sachs Group also raised his six-month forecast target to 2050 US dollars / ounce.

UBS: gold will fall to $1600 an ounce by the end of 2022

Joni Teves, an analyst at UBS, expects the gold market to refocus on macro factors, such as real interest rates, Fed policy and economic growth prospects. Although the current upward trend in gold continues unabated, the recent rally in gold will be "short-lived" as geopolitical risks recede. As the current quarter draws to a close, the Fed is widely expected to raise interest rates in March, which tends to push up yields on assets such as Treasuries, making non-yield assets such as gold less attractive.

The UBS analyst also gave a lower forecast for gold prices. He expects gold to fall to $1600 an ounce by the end of 2022.

Credit Suisse: the trend of gold prices this week will depend on the situation in Eastern Europe

Ipek Ozkardeskaya, a senior analyst at Credit Suisse, said gold prices this week will depend on what happens in Eastern Europe. "if a sustainable solution to the border issue can be reached, the yellow metal could quickly give up the gains related to Ukraine," she said. "however, if things get worse, gold prices will not hesitate to rise, including the possibility of rising to $2000. But this is not the basic situation. "

At present, the war between Russia and Ukraine has officially begun, and the mood of risk aversion is heating up.

Which big bank do you agree with the target price of gold?

Gold stocks, ETF can continue to rise?

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