Goldman Sachs forecast gold to climb higher than previously expected, target $2,900 /ounce ...Middle East

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Goldman Sachs Research anticipates a bullish outlook for gold, projecting prices to reach $2,900 per ounce by early 2025, up from a prior forecast of $2,700. This optimism is largely attributed to a surge in gold purchases by central banks, especially in emerging markets. Traditionally, gold prices align closely with interest rate trends—lower rates often boost gold's appeal as a non-yielding asset. However, significant central bank buying since 2022 has shifted this dynamic, with Goldman estimating that an additional 100 tonnes of physical gold demand can lift prices by around 2.4%.This surge in demand is partly driven by a desire for financial security, especially after the freezing of Rus

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Goldman Sachs forecast gold to climb higher than previously expected, target $2,900 /ounce ...Middle East

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