CNBC: Goldman Hikes Gold Forecast, Sees Central Banks Making 'Rapid' Purchases For Years

Article by Jesse Pound in CNBC

The big run-up in gold still has plenty of headroom left, according to Goldman Sachs.

Commodities strategist Lina Thomas hiked her forecast on the precious metal in a note late Wednesday. Spot gold crossed the $3,000 per ounce mark for the first time earlier this month.

“We raise our end-2025 forecast to $3,300/toz (vs. $3,100) and our forecast range to $3,250-3,520, reflecting upside surprises in ETF inflows and in continued strong central bank gold demand,” the note said.

If spot gold reaches $3,300 per ounce, that would be an increase of about 8% from where it was trading Thursday morning.

The price of gold rose steadily throughout 2024 after beginning the year near $2,000. The metal has seen another jump in early 2025, coinciding with ......

To continue reading this article, click here!