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Goldman Sachs says: Go buy gold! Gold prices will exceed $3,000 next year.

Due to central bank demand and the impact of U.S. interest rate cuts, gold is expected to rise to record levels next year.

Goldman Sachs has listed gold as its top commodity trade for 2025, stating that during Donald Trump's presidency, gold prices could continue to trend upwards. Goldman Sachs analysts, including Daan Struyven, stated in a report, "Buy gold." He also emphasized that the target for gold prices before December 2025 will be $3,000 per ounce.

The structural drivers of this prediction include two points: first, the increased demand from central banks, and second, as the Federal Reserve cuts interest rates, the influx of funds into gold ETFs (exchange-traded funds) will provide a cyclical boost. Gold prices have already shown a strong rebound this year, continuously setting records.

This momentum began to shift after Donald Trump won the election, as his victory boosted the dollar, causing a pullback in gold prices.

As for the future trend of gold, the bank holds an optimistic view. Goldman Sachs expects that increased purchases by official sectors and the Federal Reserve's shift toward easing policies will support rising gold prices; additionally, the Trump administration may also support gold.

The bank also stated that escalating trade tensions could revive speculative positions in gold; growing concerns about the sustainability of U.S. finances could also boost gold prices, as central banks—especially those holding large reserves of U.S. Treasuries—may choose to buy more gold.

As of now, spot gold is quoted around $2,585 per ounce, having surged above $2,790 last month.

As for the outlook of other commodities, Goldman Sachs expects Brent crude oil to trade between $70 and $85 per barrel next year. In the short term, if the Trump administration imposes stricter sanctions on Iranian oil supplies, oil prices may have upward momentum; furthermore, base metals will be favored over ferrous metals; European natural gas faces upward risks in the short term due to weather conditions.#BabyMarvinf9c7火星狗