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Bernstein on Gold: $5,600/oz 2030 Call, Newmont Outperform — TP $144

Posted on by Eben@CANSLIM Research
Eben@CANSLIM Research's avatarEben@CANSLIM Research

Bernstein has trimmed its 2030 gold price forecast to $5,600/oz from $6,100/oz, but argues the metal can still rise alongside slowly rising real rates — the path the market now appears to be on. The broker keeps Outperform ratings on Newmont (NEM), Barrick Mining (B) and Merdeka Gold, even as US 10-year real rates have climbed from 1.7% in early March to around 2.7% and markets price 2-3 rate hikes by 2027.

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