Goldman Sachs: "Gold prices may rise more than expected."

Goldman Sachs (GS) Commodity Research team has indicated that gold prices may reach higher levels than previously anticipated this year. Analysts noted that unexpected increases in ETF fund inflows and strong demand for gold from central banks are supporting this rise. This situation strengthens the notion that while speculative positions in the market are expected to normalize in the short term due to increasing investor interest in gold as a safe haven, these positions may remain elevated for an extended period amid ongoing uncertainties.

Goldman Sachs predicts that central banks in Asia will continue their gold purchases over the next 3 to 6 years to achieve potential reserve targets. As these institutions maintain their gold acquisition strategies, the demand dynamics in the global market are significantly shaped. The purchases by central banks in the region are expected to contribute to an upward trend in gold prices in the medium to long term, indicating that while speculative positions may correct in the short term, sustained high demand could lead to elevated price ranges influenced by uncertainty.