Goldman Sachs(US:GS) Zhong Guo Xin Wen Wang·2025-10-09 14:21Core Viewpoint - The recent surge in gold prices, surpassing $4000 per ounce, is driven by factors such as geopolitical risks, liquidity from central banks, and increased demand for gold as a safe-haven asset [4][5]. Group 1: Gold Price Movement - On October 8, international gold prices reached a historic high of $4081 per ounce on COMEX and $4059.31 per ounce in London [3][4]. - As of October 9, gold prices showed slight declines but remained above $4000, with COMEX gold at $4059.2 per ounce and London gold at $4036.588 per ounce [1][4]. Group 2: Factors Driving Gold Prices - The recent increase in gold prices is attributed to ongoing geopolitical tensions, including the U.S. government shutdown and concerns over U.S. debt and dollar credit risks, making gold an attractive hedge [4][5]. - The rise in gold prices is also influenced by the continuous inflow of trading funds and the strategic asset allocation by central banks, particularly in emerging markets, which are diversifying their reserves away from the dollar [4][5]. Group 3: Future Outlook - Analysts predict that gold prices will continue to be influenced by global liquidity conditions, risk aversion, and central bank purchases, with expectations of further price increases in the coming year [6]. - Goldman Sachs has raised its gold price forecast for the end of 2026 from $4300 to $4900 per ounce, driven by strong inflows into ETFs and ongoing central bank purchases [6].