🧵 1. Goldman Sachs raises gold price forecast to $2,900/toz for early 2025, citing central bank purchases and ETF flows as key drivers of the surge in price. #finance
🧵 1. Goldman Sachs raises gold price forecast to $2,900/toz for early 2025, citing central bank purchases and ETF flows as key drivers of the surge in price. #finance
🧵 2. Analysis reveals 'secret' gold buyer behind the 47% rally since 2022, defying traditional rate-price relationship with strong institutional demand.
🧵 3. China's central bank, PBoC, emerges as a key player in gold market with steady institutional purchases on the London OTC market, aligning with reports.
🧵 4. PBoC's reported 18-month gold buying streak in line with market estimates, as Goldman Sachs nowcasting model utilizes customs data to track institutional demand.
🧵 5. Demand for gold bars on London OTC market remains robust, driven by central banks and institutions, reshaping price dynamics despite market conventions and rising rates.
🧵 Read more at: https://www.zerohedge.com/commodities/go-gold-goldman-sachs-raises-precious-metal-price-forecast-amid-secret-buyers