Goldman Sachs says "go buy gold" as central bank demand and expected Fed rate cuts may help gold prices reach $3,000 next year

Wallstreetcn
2024.11.18 03:36

Goldman Sachs stated that considering central bank buying and the prospects of interest rate cuts in the U.S. next year, gold is expected to rise to record highs. The bank has included gold in its list of preferred commodities for trading in 2025 and mentioned that gold prices may further increase during President Trump's term. "Go buy gold," analysts including Daan Struyven said in a report, reiterating a target of $3,000 per ounce by December 2025. They indicated that the structural driver behind this expectation is increased central bank demand, while the cyclical boost will come from the flow of funds into exchange-traded funds (ETFs) as the Federal Reserve cuts interest rates

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