Goldman predicts more gold price gains as Trump tariff fears swirl
Published On Feb 18, 2025, 5:56 AM
Goldman Sachs has raised its year-end gold price target to $3,100 per ounce, citing increased central bank demand and concerns over tariffs as potential drivers of prices. As inflation and geopolitical uncertainties rise, interest in gold as a safe haven increases. Year-to-date, gold prices have risen nearly 10%, outpacing major stock indices. Gold mining companies like Barrick Gold have also benefitted, seeing significant gains in their share prices and substantial earnings. The potential for further increases in gold prices exists, especially if tariffs continue to create policy uncertainty.
Stock Forecasts
GLD
Positive
With Goldman's revised forecast and increasing demand for gold as a hedge against uncertainty, there is a possible upward trend for gold-related investments. The strong performance of gold mining stocks suggests a continued bullish outlook for the sector as well.
GOLD
Positive
Given the solid performance of Barrick Gold, especially in light of its record earnings and continued focus on shareholder returns, this stock is likely to perform well as gold prices rise and attract more investor attention.
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