Goldman Sachs’ base case price for gold is $3,700 an ounce by year-end and $4,000 by mid-2026
Goldman Sachs on gold:
- reiterated its structural bullish gold view
- base case price of $3,700 an ounce by year-end 2025
- but in the event of a recession, the acceleration in ETF inflows could drive the gold price to $3,880
- GS say in the case of extreme risk scenarios – such as heightened concerns over Federal Reserve independence or shifts in U.S. reserve policy – gold could plausibly reach $4,500 by the end of 2025
- $4,000 by mid-2026.
