Gold Price: Goldman Says ‘Go for Gold’ as Central Banks Buy, Fed Cuts in ‘25

Gold will rally to a record next year on central-bank buying and US interest rate cuts, according to Goldman Sachs Group Inc., which listed the metal among top commodity trades for 2025 and said prices could extend gains during Donald Trump’s presidency.

“Go for gold,” analysts including Daan Struyven said in a note, reiterating a target of $3,000 an ounce by December 2025. The structural driver of the forecast is higher demand from central banks, while a cyclical lift would come from flows to exchange-traded funds as the Federal Reserve cuts, they said.