Goldman Sachs (one of the world's leading financial and banking groups, headquartered in New York, USA) believes that the recent sell-off of gold was mainly due to short-term technical factors, such as investors cutting losses due to the stock market decline, as well as shifting to other assets. However, in the medium term, they still see gold as solidly supported.
Goldman Sachs believes gold is the most worth-investing commodity today and still recommends buying.
According to the bank's experts, the US government's "responsive" tariff policies could affect global growth, thereby further strengthening demand for holding defensive assets such as gold.
We kept the year-end gold price forecast unchanged at $3,300/ounce, with a range of $3,250 to $3,520/ounce, suggesting a high chance of continued price increases, Goldman experts wrote. They added that current factors still support the positive trend of gold.
In addition, long-term demand for gold from central banks in emerging markets, along with cash flow into ETFs due to concerns about recession and expectations of the US Federal Reserve (FED) cutting interest rates, will also support gold prices.
Goldman also stressed that gold and precious metals are not subject to new tariffs, and they do not expect the Trump administration to tax gold in the future.
For industrial metals, the bank warned that copper prices could fall below $9,000/ton in the second quarter if trade tensions escalate.
However, gold is still the most prominent asset, thanks to the combination of macroeconomic risks and the fact that many investors have not yet participated much in this market.
We see this correction, as well as future price cuts, as an opportunity to buy gold, the experts said.
As of 5:55 a.m. on September 7, spot gold was adjusting downward, to a multi-day low of $2,971.50 an ounce.
The above article was analyzed by experts for world investors. When buying domestic gold, investors need to pay attention to the difference between buying and selling prices, currently up to nearly 3 million VND per quantity. The difference is too high, reducing profitability, especially for surfing.
If gold prices continue to decrease, buyers will easily suffer heavy losses because they will not only lose gold value but also have to bear the additional difference. Therefore, investors need to carefully consider and closely monitor gold price movements before deciding to enter the market.
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