Goldman Sachs(US:GS) 智通财经网·2025-05-20 07:34Group 1 - Moody's downgraded the U.S. government's credit rating from Aaa to Aa1, marking the removal of U.S. sovereign debt from the highest credit rating category by all three major rating agencies [1] - Gold is increasingly viewed as a "safe haven" asset and a core "anti-dollar" asset by global investors, especially in light of the U.S. credit rating downgrade [1][2] - Wall Street institutions are predicting a prolonged "dollar bear market," driven by the chaotic economic policies of the Trump administration [1][4] Group 2 - The current global economic design is fundamentally based on a debt model, where borrowing is often used to purchase tangible assets [3] - In a moderate inflation environment, equities like stocks are expected to perform well as they represent shares of productive assets [3] - The sentiment among Wall Street investors remains bearish on the dollar, with many hedge funds believing that a multi-year "dollar bear market" has just begun [4][5] Group 3 - Goldman Sachs maintains a bullish outlook on gold prices, forecasting $3,700 per ounce by the end of 2025 and $4,000 per ounce by mid-2026 [5][6] - In extreme risk scenarios, gold prices could potentially rise to $4,500 per ounce by the end of 2025 [6] - A recent Bank of America survey indicates that investor allocation to the dollar has dropped to a 19-year low, with 57% believing the dollar is overvalued [6][7] Group 4 - The "BIG strategy" proposed by Bank of America, which involves holding U.S. Treasuries, international stocks (excluding the U.S.), and gold, has shown to provide superior returns compared to the "Trump trade" [7]