Goldman Sachs shares new gold forecast: When will gold rise?
Gold prices started the new week with a recovery following the sharp decline they experienced last week. As investors closely monitor statements from Fed officials and gold purchases by central banks, Goldman Sachs expects gold to rise to 3,000 dollars by 2025. Gold could reach record levels next year thanks to US interest rate cut policies and central bank purchases.
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Gold prices rose by more than 1 percent as the rally in the dollar stalled following the sharp decline recorded last week. Investors are closely following the statements to be made by Fed officials this week to get clues about the path to be followed regarding interest rates in the US.
WHEN WILL GOLD PRICES RISE?
In its analysis, Goldman Sachs drew attention to the importance of interest rate cuts in 2025, supported by central bank gold purchases and the US.
Suggesting that gold, which is among the most important commodities, will continue its upward trend in light of these developments, a Goldman Sachs analyst stated that the ounce of gold could rise to 3,000 dollars.
The analyst, who hopes to see the 3,000 dollar target realized by December 2025, linked the structural rise in gold to the Fed's continued interest rate cuts. The analyst said that if interest rate cuts continue, the flow of money into exchange-traded funds could also accelerate.