Goldman Sachs: Gold could rise to $5,000 per ounce

US investment bank Goldman Sachs announced that the price of an ounce of gold could rise to $5,000.

Gold is breaking new records every day due to rising expectations of a rate cut from the US Federal Reserve (Fed) and the weakening dollar.

Today, the price of an ounce of gold broke records at $3,659.27, while the price of a gram of gold broke records at 4,855.576 lira.

As of 14:06, an ounce of gold is worth $3,653.58, a gram of gold is worth 4,848.664 lira. The dollar is worth 41.2749 lira.

According to NTV , Goldman Sachs predicts that the price of an ounce of gold could rise to $5,000.

According to the bank, only two things would be needed: the reputation of the U.S. Federal Reserve being tarnished and investors shifting only a small portion of their holdings from Treasury bonds to gold bullion.