Goldman Sachs sees gold as a strong hedge against potential risks from Trump-era tariffs, predicting prices will rise further in 2025.

I posted on their forecast yesterday:

Adding a little more now:

  • GS highlights gold's role as a safe haven during heightened Trump trade tensions and tariff increases
  • current policy uncertainty and recent market consolidation create a favorable opportunity for investing in gold
  • structural demand from central banks and cyclical factors, like expected Federal Reserve rate cuts, as key drivers
Citi has lowered its estimates for flows into gold ETFs and is wary of lower prices for the metal in