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Wall Street continues to look forward to the Gold bull market: aiming for 3,000 dollars.
After experiencing a glorious year in 2024, Fund managers still see reasons to remain Call.
Goldman Sachs has changed its mind! It has lowered the Target Price for Gold and no longer expects it to reach 3000 USD by the end of the year.
Goldman Sachs pointed out that the slowdown in the USA's monetary policy easing in 2025 will suppress the demand for Gold ETFs. Therefore, it is expected that the gold price will reach $2910 per ounce by the end of this year, rather than the previously anticipated $3000 per ounce. Goldman Sachs also expects the gold price to reach $3000 per ounce by mid-2026 as the Federal Reserve continues to cut interest rates.
The Golden Industrial Concept stocks have collectively declined, with LINGBAO GOLD (03330) dropping 4%. Goldman Sachs no longer predicts that gold prices will reach $3,000 this year.
Jinwu Financial News | Golden Industrial Concept stocks have seen a general decline. As of the time of writing, LINGBAO GOLD (03330) is down 4%, SD GOLD (01787) is down 1.62%, ZHAOJIN MINING (01818) is down 1.40%, and Zijin Mining Group (02899) is down 0.83%. On the news front, Goldman Sachs released a Research Report indicating that due to the market's expectation that the Federal Reserve will reduce interest rates from 100 basis points to 75 basis points this year, it expects that gold will not reach $3,000 per ounce by the end of this year and has postponed this prediction to mid-2026. The report states that this year the Federal Reserve will slow the pace of interest rate cuts, which will suppress demand for Gold ETFs.
Federal Reserve officials express concerns about inflation, and gold prices hover around $2,640.
Statements made by Federal Reserve officials over the weekend have reinforced the view that the Fed will adopt a more cautious approach to interest rate cuts this year.
Gold Futures End Higher Amidst Ongoing Geopolitical Tensions
As fears around Trump rise, the trends in Emerging Markets MMF and Gold diverge.
Amid expectations of Trump possibly returning to the White House, the 30-day correlation between Gold and the MSCI Emerging Markets MMF Index has dropped to its lowest point in nearly three years. Over the past three years, these two Assets have been positively correlated 86% of the time, but now they are experiencing a 30-day negative correlation, which has occurred for only the fifth time in three years.
