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GoldFix

Goldman: Dealing Banks Gamma-Squeezed in January

Insurance Buyers, Gamma-Squeezes, and the Structural Bid Under Gold

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VBL
Feb 17, 2026
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Insurance Buyers, Gamma-Squeezes, and the Structural Bid Under Gold

Gold accelerated in 2025 following a strong 2024 performance. Despite a 15 percent correction and renewed volatility, Goldman Sachs maintains a constructive outlook. In an interview on The Markets, Lina Thomas outlined the firm’s current framework for gold and silver, emphasizing structural demand, option-driven flows, and liquidity fragmentation.

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