Goldman Sachs remains bullish on gold, driven by expectations of potential Federal Reserve rate cuts and strong, consistent demand from China.

Despite rising U.S. interest rates, which typically lower gold prices, structural changes in the Chinese market and significant gold purchases by China’s central bank are creating a robust outlook for gold.

Goldman Sachs forecasts gold prices to reach $2,700 by 2025, supported by central bank buying and anticipated Western capital inflows due to potential rate cuts.