Not $3,000, Gold Prices Could Hit $3,300 in 2025

Gold prices deed $2,945 successful February but reversed cogwheel this period arsenic its terms fell beneath the $2,900 mark. It is present trading astatine the $2,890 level and is down astir 2 points successful the indices. The XAU/USD scale is looking to ascent supra the $2,900 people but cannot standard up successful the charts.

Source: Investing.com

However, starring concern slope Goldman Sachs has revised its people for golden predicting that prices could scope $3,300 successful 2025. The planetary slope had antecedently forecasted that the precious metallic could deed $3,000 this year. It is present much bullish connected the precious metallic estimating it could interaction $3,300.

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Goldman Sachs Revises Gold Prices to $3,300 successful 2025

Source: iStock

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Investment slope Goldman Sachs probe expert Lina Thomas wrote successful the latest report that golden prices could support surging successful 2025. Thomas explained that cardinal banks of processing countries are progressively buying golden and diversifying their reserves. The surge successful accumulation comes aft the US pressed sanctions connected Russia successful 2022 pursuing the penetration of Ukraine. She wrote that determination is accrued request for golden from emerging economies that volition marque its ascent toward $3,300 unstoppable.

“The accrued forecast is underpinned by higher-than-expected request for golden from cardinal banks, which person been expanding their reserves of the commodity since the freezing of Russian cardinal slope assets successful 2022, pursuing Russia’s penetration of Ukraine,” the concern slope wrote.

“Those factors whitethorn beryllium somewhat offset by speculators reducing their nett agelong positions connected golden successful futures markets, which is projected by Goldman Sachs Research to measurement connected the golden terms somewhat. Net agelong positions are presently precise precocious arsenic concerns of sustained tariffs from the Trump medication thrust investors towards safe-haven assets including gold. This script would thrust the golden terms arsenic precocious arsenic $3,300 per troy ounce by the extremity of 2025,” Thomas wrote successful the report.

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