Goldman Sachs has once again raised its gold price forecast, now projecting gold will reach $3,700 per ounce by the end of 2025. The upgrade is driven by stronger-than-expected central bank purchases and growing investor interest through gold-backed ETFs.
According to Goldman, central banks are now expected to buy around 80 tonnes of gold per month, up from previous estimates. Spot gold has already surged over 23% this year, recently crossing the $3,200 mark. If demand continues to accelerate—especially in the event of a recession—gold could reach as high as $3,880 by year-end, and potentially $4,500 in more extreme scenarios.
At Allenhouse Metals, we see this as a strong signal that gold’s upward momentum is just getting started. For investors looking to protect and grow their wealth, physical gold and silver remain critical tools in today’s volatile economic environment.
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