Goldman Sachs: gold can bring 14% profitability by the end of the year

Goldman Sachs Group Inc. and UBS Group AG have again voiced optimistic forecasts for gold, citing strong demand from central banks and the asset's protective properties in the face of recession, geopolitical risks and tariff war.

The bank's analysts expect the cost of an ounce of «black gold» to rise to $3,700 by the end of 2025, and to reach $4,000 by the middle of next year. 

These forecasts came after gold jumped 6.6% last week, setting a new record above $3,257 per ounce. The current quote of the precious metal is $3,246.

The experts also noted that purchases from the official sector could amount to about 80 tons per month, which is higher than their previous estimate of 70 tons, and confirmed their recommendation for long-term investments in gold.