Gold performs more like luxury real estate than a commodity – Goldman Sachs

Group 1 - The article discusses the recent performance and strategic direction of Goldman Sachs, highlighting its focus on expanding its wealth management and consumer banking divisions [1][2] - Goldman Sachs reported a significant increase in its quarterly earnings, with a year-over-year growth of 20%, driven by strong performance in investment banking and asset management [1] - The company is also exploring new technology investments to enhance its digital banking capabilities, aiming to attract a younger demographic [2] Group 2 - Analysts note that Goldman Sachs is positioning itself to capitalize on the growing demand for financial services among millennials and Gen Z, which could lead to increased market share [1][2] - The firm is expected to face challenges from rising interest rates and regulatory scrutiny, which may impact its profitability in the near term [1] - Goldman Sachs is actively seeking partnerships and acquisitions to bolster its service offerings and improve customer engagement [2]