Goldman Sachs says gold could hit $5K as fears grow over Federal Reserve's independence

Wall Street giant Goldman Sachs predicted that gold prices could soar to the $5,000 mark on fears that President Trump is trying to clamp down on the Federal Reserve’s independence.The precious metal has rallied 35% this year to more than $3,500 per troy ounce, making it one of the world’s best-performing major assets. Gold is traditionally seen as a hedge against inflation.“A scenario where Fed independence is damaged would likely lead to higher inflation, lower stock and long-dated bond prices, and an ero ...