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This marks the second upward adjustment in Goldman Sachs' prediction for the precious metal since the start of the year. Just over a month ago, in February, analysts forecasted the price of gold to reach $3100 by the conclusion of 2025. Goldman Sachs has increased its projection for central banks gold demand. Analysts predict that by the close of 2025, their demand will reach an average of 70 tons of gold each month, having previously estimated it at 50 tons.
The revised prediction of $3300 per ounce indicates increased buying from November 2024 to January 2025: in this timeframe, central banks acquired approximately 190 tons each month, analysts reported. They also anticipate that China will keep accumulating gold for a minimum of three years.
According to Goldman analysts, central banks, particularly in emerging markets, have raised their gold acquisitions roughly five times since 2022, following the Bank of Russia's freezing of reserves after the commencement of the conflict in Ukraine. They view this as a fundamental change in reserve management and do not anticipate a return to past principles soon
source: bloomberg.com
The revised prediction of $3300 per ounce indicates increased buying from November 2024 to January 2025: in this timeframe, central banks acquired approximately 190 tons each month, analysts reported. They also anticipate that China will keep accumulating gold for a minimum of three years.
According to Goldman analysts, central banks, particularly in emerging markets, have raised their gold acquisitions roughly five times since 2022, following the Bank of Russia's freezing of reserves after the commencement of the conflict in Ukraine. They view this as a fundamental change in reserve management and do not anticipate a return to past principles soon
source: bloomberg.com
