Goldman Sachs: Gold has the greatest potential for near-term price increases

Goldman Sachs believes that because gold is the preferred risk hedge, the near-term price increase is the most likely, while other commodities are "more selective and less constructive". "Impending Fed rate cuts could bring Western capital back into the gold market, a factor that has largely not been seen in the past two years of gold's sharp rally," Goldman Sachs analysts said on Monday in a report titled "Go for Gold". Goldman Sachs adjusted the target price of gold at $2,700 to early 2025, after previously forecasting the end of 2024, citing price sensitivity in the Chinese market. The bank believes that price sensitivity can also prevent the hypothetical price from falling sharply, which may boost buying demand in the Chinese market.