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 erosion of the dollar’s reserve-currency status,” Goldman Sachs analysts including Samantha Dart said in a note. 3

“In contrast, gold is a store of value that doesn’t rely on institutional trust,” the note added. “Gold remains our highest-conviction long recommendation in the com

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