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Gold prices are rising too quickly! Goldman Sachs is already looking at $3,300 by the end of the year before even finishing the report.
①Goldman Sachs Analysts Lina Thomas and Daan Struyven just raised the target price for gold by the end of 2025 to $3,100 per ounce last month; ②this month, the gold price has already surpassed the $3,000 mark for the first time in history, forcing Goldman Sachs to hurriedly "tear up the report" and revise their forecast.
Goldman Sachs has raised its year-end gold price target to $3,300, citing that "demand from central banks and ETFs has exceeded expectations."
Goldman Sachs stated that recent ETF inflows have been unexpectedly strong, reflecting an increase in investors' demand for safe-haven assets. In addition, Goldman Sachs expects that major central banks in Asia may continue to rapidly purchase Gold over the next 3-6 years, with countries like China potentially raising their target Gold reserve ratio from the current 8% to 20-30%.
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