$ETH *Goldman Sachs' predictions about the rise in gold prices prove to be true once again*
According to Goldman Sachs analysts, gold is expected to break another record by the end of 2025, with prices predicted to reach around $3,700 per troy ounce.
Goldman Sachs has raised its gold price forecast to $3,700 per ounce due to growing concerns about the U.S. economy and the escalating trade war between Washington and Beijing, making gold an increasingly attractive safe investment.
This is the third time this year that the bank has raised its gold price target. In March, the investment bank had also increased the price to $3,300 per ounce by the end of this year. Furthermore, Goldman Sachs analysts have acknowledged the possibility of an extreme scenario where gold could reach $4,500 per ounce by the end of 2025.
The bank's experts have suggested gold as a hedge against rising concerns of a U.S. recession. Goldman Sachs itself is also following this strategy and has noted a recent increase in demand for gold ETFs and physical gold. This increase is largely due to the rising trade tensions between the U.S. and China. Recently, the White House raised tariffs on Chinese imports to $3,384 per ounce. Meanwhile, demand for physical gold and gold ETFs remains strong. A major reason is the recent strong purchases of gold by central banks in Asia. These actions come amid concerns about U.S. recession, global economic uncertainty, and fears of a global trade war.
