Globe says Goldman now pegs gold at $3,300

Apr 2, 2025

2025-04-02 07:06 ET – In the News

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The Globe and Mail reports in its Wednesday edition that gold has surged above $3,000 an ounce this year (all figures U.S.). The Globe’s David Berman writes that analysts predict continued price increases, with Goldman Sachs recently raising its year-end forecast to $3,300 and Bank of America suggesting it could reach $3,500 in two years. More optimistic projections come from Ed Yardeni, who anticipates gold may hit $4,000 by year’s end and $5,000 by 2026, while David Rosenberg predicts a rise to $6,000 within five years, driven by factors like a weakening greenback and lower interest rates. Mr. Rosenberg says: “The case for gold was there long before Donald Trump got elected. That’s just one part of the story.” The commodity has risen 17 per cent since the start of 2025, easily beating the return on government bonds, another popular destination for safety-seeking investors. Gold stocks, which can exaggerate the underlying commodity when the costs of producers are fixed, have been performing even better. The NYSE Arca Gold BUGS Index ETF has gained 31 per cent so far in 2025. With U.S. equity benchmarks wobbling and consumer confidence declining, it is no surprise that investors are seeking winning investment strategies.