In a new report titled”Strategic Cases of Gold and Oil in Long-term Portfolios,” Goldman Sachs advises investors to reassess their exposure to gold and oil as hedges against inflation and systemic risks. The bank highlights gold’s historical resilience during economic turbulence, recommending an above-average allocation over the next five years. Analysts argue that gold’s role as a “safe-haven” asset remains critical amid persistent inflation and geopolitical uncertainty.
While maintaining a positive outlook on oil, Goldman suggests a below-normal allocation, citing structural headwinds from the energy transition and volatile demand cycles. The report notes that oil’s traditional inflation-hedging properties may weaken over time, though it still warrants a place in diversified portfolios.
The recommendations reflect a broader shift in asset allocation strategies as markets adapt to higher-for-longer inflation and evolving risk dynamics. Goldman’s analysis underscores gold’s enduring appeal in turbulent times, while acknowledging oil’s more nuanced role in a decarbonizing global economy.
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