Goldman Sachs raises 2025 gold forecast to $3,700 amid soaring demand
Goldman Sachs has revised its year-end 2025 gold price forecast upward to $3,700 per ounce, up from its previous estimate of $3,300.
The investment bank now expects prices to range between $3,650 and $3,950, citing stronger-than-anticipated demand from central banks and rising inflows into gold-backed exchange-traded funds (ETFs), fueled by growing recession concerns, News.Az reports, citing Reuters.
"If a recession occurs, ETF inflows could accelerate further and lift gold prices to $3,880 per troy ounce (toz) by year-end," the bank said in a note dated Friday.
"That said, if growth surprised to the upside on reduced policy uncertainty, ETF flows would likely revert to our rates-based predictions, with year-end prices closer to $3,550/toz."
The White House exempted smartphones and computers from "reciprocal" U.S. tariffs, however, President Donald Trump warned levies were still likely at some point.
Spot gold prices hit another record high on Monday at $3,245.42 per ounce but lacked clear direction as the market absorbed the ongoing tariff story.
The bank also nudged up its central bank demand assumption to 80 metric tons per month, from 70 tons earlier.
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