Goldman Sachs raised its 2025 gold price forecast to a record $3,700 per ounce, citing escalating US-China trade tensions and growing America's economic concerns. This marks the third increase this year, following a March revision to $3,300. The bank warns gold could surge to $4,500 an ounce by 2025 in an extreme scenario. Goldman Sachs defends itself against the potential risks of recession in the United States, noting an increase in demand for gold ETFs and physical bullion, according to Investing.com.
Based on web-published data, heightened US-China tensions, with United States trade levies on Chinese goods reaching 145%, have triggered retaliatory measures from Beijing. President Trump’s threats of additional tariffs on economic partners and industries further fuel uncertainty.
Last week, the precious metal hit a record $3,241.93 per ounce, driven by strong demand and increased gold reserves by Asian central banks, Investing.com reports.