Goldman Sachs has revised its gold price forecast for early 2025, raising it from $2,700 to $2,900 per troy ounce. This bullish outlook is based on expectations of faster declines in short-term interest rates in Western countries and China, as well as continued strong purchases by emerging market central banks. The investment bank cites the gradual boost from lower global interest rates, structurally higher demand from central banks, and gold’s role as a hedge against various risks as key factors supporting their long gold recommendation.
