Goldman Sachs(US:GS) Sou Hu Cai Jing·2025-09-07 06:17Group 1 - Goldman Sachs maintains a bullish outlook on gold, recommending it as the "highest-conviction long" investment due to potential inflation and risks associated with the independence of the Federal Reserve [1][2] - The firm projects gold prices to reach $3,700 per ounce by the end of 2025 and $4,000 per ounce by mid-2026, with a potential spike to over $4,500 per ounce under certain risk scenarios [1] - The report highlights that a loss of Federal Reserve independence could lead to rising inflation, falling long-term bond prices, declining stock prices, and a weakened status of the dollar as a reserve currency, making gold a more attractive store of value [1] Group 2 - If private investors diversify into gold similarly to central banks, Goldman Sachs predicts that gold prices could exceed $4,500 per ounce [2] - A scenario where 1% of the funds currently held in U.S. Treasury securities by private investors flows into gold could push prices close to $5,000 per ounce [2]