Goldman Sachs Raises Gold Price Forecast to $3,300 Amid Geopolitical Tensions and Central Bank Buying

Goldman Sachs, on March 26, revised its year-end gold price forecast to $3,300 per ounce, up from $3,100, with a predicted range of $3,250-$3,520. This adjustment follows gold's recent surge past $3,000/oz. The firm cites potential US tariffs on the EU and market focus on a possible "Hague Accord" framework as catalysts for speculative buying. Goldman Sachs also anticipates that major Asian central banks will continue aggressive gold purchases over the next 3-6 years, potentially increasing their gold reserves from 8% to 20-30%. In an extreme scenario, gold prices could exceed $4,200/oz. While a Russia-Ukraine peace deal or stock market crash might trigger short-term liquidation, it would present attractive entry points. Investors can monitor the CSI Gold Industry Stock Index (931238.CSI) and related ETFs like the Gold Stock ETF (517400) to capitalize on gold sector opportunities.