Goldman Sachs has picked up on the fact that China is expanding its gold reserves far faster than the official data indicates.
Goldman Sachs
Goldman Sachs sees gold hitting $4,000 amid Fed pressure fears (September 2025)
Goldman Sachs has issued its most bullish gold forecast yet, setting targets of $3,700 per ounce by the end of 2025 and $4,000 by mid-2026, while warning that extreme scenarios could drive the precious metal to $5,000 if the Federal Reserve independence comes under threat. The bank’s analysis comes as gold trades at record highs above $3,580 per ounce, having surged 36% this year to become one of the best-performing assets globally.
The Argument for Negative Interest Rates in the US has Strengthened, Goldman says — But the Fed Remains Opposed
The bank said that a deep and prolonged recession would warrant negative interest rates, as asset purchases and forward guidance from the Fed would likely not “fill the gap,” unless it started to buy risky assets like stocks.
G20 Meeting Could Trigger Rebound in Commodities Prices: Goldman
Gold Silver Reports (GSR) – “Given the size of dislocations in commodity pricing relative to fundamentals, with oil now having joined metals in pricing below cost support, we believe commodities offer an extremely attractive entry point for longs in oil, gold and base (metals),” the bank said in a note.
Commodities has Rarely Been Stronger, According to Goldman Sachs
Gold Silver Reports (GSR) – Commodities has rarely been stronger, according to Goldman Sachs Group Inc. With raw materials rallying on escalating political-tensions across the globe and economic growth remaining strong, the bank’s analysts including Jeffrey Currie doubled down on their “overweight” recommendation. They reiterated a view that commodities will yield returns of 10 percent over the next 12 months, according to an April 12 note.