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According to Goldman Sachs analysts, gold is set to break another record by the end of 2025. The price is expected to reach around $3,700 per troy ounce.
Goldman Sachs has raised its gold price forecast to $3,700 per ounce, citing growing concerns over the US economy and the escalating trade war between Washington and Beijing, which make the yellow metal increasingly attractive as a safe-haven asset.
This marks the third upward revision to the bank’s gold price target this year. Back in March, the investment bank had already lifted its forecast to $3,300 per ounce by the end of this year. Moreover, Goldman Sachs analysts acknowledged the possibility of an extreme scenario where gold could surge as high as $4,500 per ounce by the end of 2025.
The bank’s experts recommend hedging against mounting US recession risks with gold. Goldman Sachs is actively following this strategy, noting a recent increase in demand for both gold ETFs and physical bullion. The surge is largely driven by the intensifying trade conflict between the US and China. The White House recently raised tariffs on Chinese imports to a cumulative 145%, sparking fierce criticism from Beijing. In response, China imposed retaliatory tariffs of up to 125% on American goods.
The escalation of the US-China trade war has pushed gold prices to a record $3,245.69 per ounce. Meanwhile, demand for both physical gold and gold ETFs remains strong. One major catalyst is robust gold purchases by central banks, especially in Asia, over recent months. These moves reflect growing fears of a potential US recession amid heightened economic uncertainty and a global tariff standoff.
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