..so $3,700 (Base Case)-4,500 (Best Case) for Gold
GOLDMAN SACHS: "WE REITERATE OUR STRUCTURAL BULLISH GOLD VIEW WITH A BASE CASE OF $3,700/TOZ BY YEAR-END AND OF $4,000 BY MID-2026"
"IF RECESSION OCCURS, WE ESTIMATE THAT ACCELERATION IN ETF INFLOWS WOULD LIFT GOLD PRICE TO $3,880 BY YEAR-END"
"IN EXTREME TAIL SCENARIOS WHERE MARKET FOCUS ON RISKS OF FED SUBORDINATION OR OF CHANGES IN US RESERVE POLICY WAS TO GROW, ESTIMATE GOLD COULD PLAUSIBLY TRADE NEAR $4,500/TOZ BY END-2025"
