CoinVoice has recently learned that two members of Goldman Sachs' research department indicated that gold prices still appear bullish in the context of a long-term strengthening dollar. According to Goldman Sachs' analysis, U.S. policy interest rates almost entirely drive investor demand for gold ETFs, with the dollar playing no additional significant role in pricing.
The strengthening of the dollar is unlikely to prevent central banks around the world from structurally increasing their gold purchases, and such purchases are often made with dollar reserves. Additionally, the trend of rising dollar and gold prices under uncertainty supports their role as hedging tools in investment portfolios. Goldman Sachs predicts that by the end of 2025, the gold price will reach $3000 per ounce. (Jin Shi) [Original link]