(Reuters) – The cash price in cash could largely exceed the reference threshold of $ 4,000 per ounce by the middle of 2026, if private investors further diversify their portfolios by investing in metal.

The cash price in cash reached a record level of 3.578.50 dollars on Wednesday, thanks to the expectations of a reduction in interest rates of the American Federal Reserve (Fed) at the end of the month, while the persistent global uncertainties maintained the demand for refuge values ​​at a high level. [GOL/]

“Gold remains our most convincing long -term recommendation,” said Goldman Sachs in a note dated Wednesday.

Goldman Sachs plans that the price of gold will reach 3.700 dollars by the end of 2025 and 4,000 dollars by mid-2026, assuming that central banks buy a lot of gold.

However, this basic vision does not take into account a major change from private investors who would abandon assets in US dollars to turn to gold, a scenario that could increase prices up to $ 4,500 per ounce.

Goldman Sachs also said that a loss of independence from the Fed could lead to an increase in inflation, an increase in long -term bond yields, a weakening of actions and a decline in the status of reserve currency of the dollar – while gold, as a reserve of value not depending on the confidence of institutions, would benefit. [MKTS/GLOB] [US/]

President Donald Trump has intensified his efforts to exercise control over the Fed, whose ability to effectively manage inflation is largely considered to be requiring the lack of political influence on interest rates.

Goldman Sachs believes that, all other things remaining constant, the price of gold could approach the $ 5,000 per ounce if 1% of private money invested in the US treasury market was reassigned to gold.

(Ashitha Shivaprasad in Bangalore; Mara Mara Vîlcu for the , edited by Blandine Hénault)

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