Goldman Sachs forecasts gold prices to hit record peaks during this period.

Gold prices have surged this year, with the price of an ounce of gold appreciating by approximately one-fifth since the beginning of the year. This rise in gold prices has been driven by a number of factors, including the expectation of a policy reversal in the US and the ongoing economic difficulties and rising public debt that have made gold a popular safe haven for investors.

Central banks around the world have been buying gold in recent months, with China, Turkey, Russia, Uzbekistan, India, South Africa, Brazil, and recently Poland among those adding to their gold reserves. The Chinese central bank, in particular, has been closely watched for potential future purchases, having suspended gold purchases for the past three months but being expected to resume buying if there's a correction.

Goldman Sachs experts have predicted that the gold price could reach a peak by spring 2025, with a record high of over $3,500 already reached in early September 2025 amid global economic uncertainty. Analysts from Goldman Sachs have also predicted a gold price of $2700 by early 2025.

The favorable environment for gold investments has been created by falling interest rates and high inflation rates, as well as stimulus programs lacking immediate revenue. These factors have made gold an attractive investment option for those seeking to protect their wealth during times of economic uncertainty.

On August 20, the gold price reached $2531 per ounce, marking a significant milestone in the ongoing rally. However, the gold price may consolidate temporarily after an increase, with the possibility for the rally to quickly resume. Gold (ISIN: XC0009655157) is being closely watched for potential future price movements.

In conclusion, gold prices have been on the rise this year, driven by a number of factors including the expectation of a policy reversal in the US and the ongoing economic difficulties and rising public debt. Central banks around the world have been buying gold, and Goldman Sachs experts predict a gold price of $2700 by early 2025 and a record high of over $3,500 by spring 2025. Gold remains a popular safe haven for investors seeking to protect their wealth during times of economic uncertainty.