Spot Gold Extends Gains, Hits Record High of $3,057.75/Oz; Gold Stocks Jump; Coeur Mining up 4%; Harmony Gold up 2%
Spot gold extended gains, hitting a record high of $3,057.75/Oz. Gold stocks jumped in Thursday trading. Coeur Mining up 4%; Harmony Gold rose 2%; Barrick Gold, Gold Fields up 1%.
Goldman Sachs on Wednesday raised its year-end forecast for gold (XAUUSD:CUR), as the precious metal continues to hit record highs amid global turmoil caused by U.S. President Donald Trump's trade war.
Gold recently crossed above the $3,000/oz level for the first time ever, and is now +15.6% YTD, versus Wall Street's benchmark S&P 500 index (SP500) which is -2.9%. The difference in performance underscores gold's traditional role as a safe haven asset from risk.
“We raise our end-2025 forecast to $3,300/toz (vs. $3,100) and our forecast range to $3,250-$3,520,” Goldman Sachs said, citing "upside surprises in ETF inflows" and continued demand from central banks.
Bank of America on Wednesday said it sees gold reaching $3,500/oz within the next two years.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Most Discussed
No relevant data is available