Gold prices are hitting the top of the charts every month in 2024, printing new all-time highs. The XAU/USD index, which tracks the performance of gold, shows the precious metal trading at the $2,640 mark. It is close to its ATH of $2,685 and is gearing up to climb above the $2,700 mark.
The bullish sentiments remain intact; another leg-up could push it towards the $2,700 price range. On the heels of the positive sentiments, leading investment bank Goldman Sachs has revised its price prediction for gold.
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Goldman Sachs is bullish on gold and estimates it could keep hitting new all-time highs by the end of 2024. The investment bank has provided a fresh forecast for 2025 and is now taking an entry position, which could be profitable in the next couple of months. This article will highlight how high gold prices could reach next year in 2025.
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Goldman Sachs Predicts Gold Prices For 2025: A Bullish Divergence On the Cards
Commodity analysts from Goldman Sachs predict that gold prices could briefly hover around the $3,000 mark in 2025. According to the price prediction, gold could reach a new high of $2,973 by 2025, forecasted by Goldman Sachs. “We reiterate our long gold recommendation due to the gradual boost from lower global interest rates, structurally higher central bank demand, and gold’s hedging benefits against geopolitical, financial, and recessionary risks,” the analysts explained.
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While the prediction is shy away from $3,000, it won’t take long to reach the target once it hits $2,973. That’s an uptick and a return on investment (ROI) of approximately 12.5% from its current price of $2,640. Therefore, an investment of $1,000 today could turn into $1,125 in 2025 if the forecast is accurate. It could be among the top gainers in the commodity markets.