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Goldman Sachs: For every 10% drop in gold price, physical gold demand in China rises 16%, and gold prices are expected to remain at 2700 next year.
Goldman Sachs believes that physical gold demand still dominates the Chinese market, and Chinese consumers may play a key role in pushing up gold prices. There is still more than 12% room for gold prices to rise next year, and expectations of a Fed rate cut and demand from central banks around the world will also help boost gold prices.
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