Geopolitics

Goldman Sachs sharply raises gold price forecast to $4,900. Central bank structural gold purchase wave reshapes supply and demand pattern; pullbacks are buying opportunities. - Bitget

Source: Bitget

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DW NOTE

Goldman's $4,900 target lands while gold trades at $4,070 — down 23.5% from January's $5,318 high. The bank is recommending you buy a pullback that has already pulled back a quarter. Central banks added 1,136 tonnes in 2023; even if they doubled that pace, it would absorb roughly 3% of annual mine supply. Structural demand is real, but calling every dip a buying opportunity is not analysis — it's a standing order with a forecast stapled to it.

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Goldman Sachs sharply raises gold price forecast to $4,900. Central bank structural gold purchase wave reshapes supply and demand pattern; pullbacks are buying opportunities. - Bitget

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