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G Sachs Raises Yr-End Gold Price Target to USD3,300
Recommend 7 Positive 18 Negative 6 |
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Goldman Sachs reiterated its recommendation to long-term hold gold, raising its year-end gold price forecast from USD3,100 per ounce to USD3,300 per ounce. This adjustment reflects expectations of strong inflows into gold ETFs and sustained growth in central bank demand. The broker also revised its gold price range forecast to USD3,250-3,520, vs the previous range of USD3,100-3,300. Goldman Sachs increased its central bank demand forecast from 50 tons per month to 70 tons, citing heightened U.S. policy uncertainty, and anticipated that China may continue to purchase gold rapidly over the next 3-6 years. Regarding gold ETFs, the broker expected two 25 bps rate cuts by the Federal Reserve this year, followed by another cut in 1H26, laying the groundwork for capital inflows into ETFs. Goldman Sachs highlighted two potential upside factors for gold ETFs. First, a Fed rate cut triggered by an economic recession could push the gold price to USD3,410 by year-end. Second, increased investor demand for gold as a hedge might drive ETF holdings back to pandemic-era levels, potentially lifting the gold price to USD3,680 by year-end. AAStocks Financial News |
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