Jan 15, 2025 (The Australian Financial Review - ABIX via COMTEX) --
The spot price of gold traded at around $US2,672 an ounce on Wednesday, and Goldman Sachs expects it to keep rising. The firm's commodities team had forecast in late 2024 that the gold price will be sustained over the long-term due to central banks increasing their gold reserves. Goldman Sachs has upgraded its long-term gold price forecast from $US1,950 an once to $US2,300; the firm is also upbeat about the outlook for Australian-listed gold producers, and it has a 'buy' recommendation on Northern Star Resources and Newmont Corporation. Citigroup in turn expects the gold price to reach $US3,000 by the end of 2025..
Publication Date: 16 January 2025
GOLDMAN SACHS AUSTRALIA GROUP HOLDINGS PTY LTD
NORTHERN STAR RESOURCES LIMITED - ASX NST
NEWMONT CORPORATION - ASX NEM
CITIGROUP PTY LTD
COMTEX_461883931/2229/2025-01-15T19:44:26
By Joanne Tran
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