Goldman: Here's Why Gold Rallied Last Week

3 Bullets and a Chart Tell The Whole Story

3 Bullets and a Chart Tell The Whole Story

Goldman put out a very brief comment on Gold Friday barely taking note of the $3,000 price. But what they did say means a lot more if recent history is any indication.

Less than a month ago we opined Goldman’s target is likely low in Why Goldman’s $3100 target is Low., and that they will likely raise it soon. This was itself followed last month by an institutional options structure revealed from their trading desk titled: Big Bets for $3500 Placed

Friday the bank said the following:

We see upside risk to our $3,100 end-2025 base case and to our $3,100-3,300 forecast range.

Implying they were considering a target raise given fresh CB buying now. Here is the GoldFix coverage of that 1 page update.