Goldman Sachs has revised its gold price forecast to $3,100 per troy ounce (toz) by the end of 2025, up from $2,890/toz.

Key Drivers Behind the Upgrade

🔹 Strong Central Bank Demand: Goldman raised its monthly central bank gold purchase assumption to 50 tonnes, up from 41 tonnes.
🔹 China's Buying Spree: China led December 2024 gold purchases, adding 45 tonnes to its reserves.
🔹 Fed Rate Cuts & ETF Flows: Expected rate cuts from the Fed could support higher gold ETF inflows, boosting demand.
🔹 Policy Uncertainty Risks: Trade and geopolitical tensions could push gold to $3,300/oz in a high-demand scenario.

Gold Market Tracking & Analysis

• Commodities API - Get real-time gold price updates.
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Gold Price Outlook for 2025

✅ Base Case: $3,100/oz
✅ Bullish Case: $3,300/oz (higher central bank demand)
✅ Lower Case: $3,060/oz (if demand stabilizes)

With global uncertainty persisting, Goldman sees upside risks for gold, reinforcing its role as a safe-haven asset in 2025.