One year ago, Goldman's precious metal analyst Lina Thomas made the case that gold would rise to $3000 by the end of 2025 (it ended up rising more than $1000 higher) as a result of relentless central bank purchases in general, and thanks to China's ravenous appetite for gold in particular. The bank promptly got pushback on this thesis, with skeptics countering that it is unlikely that gold will manage to keep its ascent at the same time as the dollar rises to new record highs, one of the largest consensus Trump trades. In response, Thomas also…
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