Goldman Raises Early 2025 Target on 500% Increase in Physical Demand
Here are "The FIS-ical Drivers of Our Bullish Gold Forecast"
“While the gold price-to-rates relationship remains intact in changes, the fivefold increase in our nowcast of central bank demand in the London OTC market since Russia invaded Ukraine has reset this relationship in levels.”
Last month Goldman revealed their methodology for reassessing Gold’s price drivers going forward which was discussed in Preview: Goldman Shares a Gold Secret and Secretive Gold Buyer (sort of) revealed. Now they further refine their methodology and with it their price targets.