Goldman Sachs on gold:
reiterated its structural bullish gold viewbase case price of $3,700 an ounce by year-end 2025 but in the event of a recession, the acceleration in ETF inflows could drive the gold price to $3,880GS say in the case of extreme risk scenarios - such as heightened concerns over Federal Reserve independence or shifts in U.S. reserve policy - gold could plausibly reach $4,500 by the end of 2025
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