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Gold Price Forecast: Goldman Sachs Says Central Bank Buying Provides Price Floor
Gold prices remain under pressure from elevated US bond yields, but Goldman Sachs believes robust central bank demand should prevent any sustained sell-off, providing a solid floor for the precious metal despite near-term headwinds. The Gold price in US Dollars (XAU/USD) traded around $4,300 on Tuesday after retreating from recent highs, as stronger US economic data and higher Treasury yields weighed on investor demand. Despite the recent pullback, Goldman Sachs remains constructive on the longer-term outlook, arguing that official sector buying continues to underpin the market. Goldman Sachs notes that central banks ... (full story)
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