17:35 - 11.12.2024

---

December 11, Fineko/abc.az. The price of gold by the end of 2025 may reach $3,000 per ounce, even in the event of further strengthening of the US dollar

ABC.AZ informs that this forecast was made by Goldman Sachs Group analysts led by Lina Thomas.

"We don’t agree with the widespread opinion that gold cannot rise in price to $3,000 per troy ounce by the end of 2025 under conditions of further strengthening of the dollar," they write.

In their opinion, amid lower interest rates and increased uncertainty, both assets may rise in price next year.

Goldman analysts believe that the price of gold will mainly depend on the scale of the rate cut by the U.S. Federal Reserve.

"Our baseline scenario assumes a 7% rise in the value of gold from an additional 125 basis point reduction in Fed rates by the end of 2025," they write.

Over the past year, gold has increased in price by 33% and is now traded above $2,700 per ounce.