Analysts at Goldman Sachs Group, Inc. believe that gold still has significant potential for growth, and its value may exceed previous forecasts due to increased interest from private investors.
According to Bloomberg, an unexpectedly strong inflow of funds into exchange-traded funds backed by gold has already exceeded experts’ expectations. Just a month ago, Goldman Sachs predicted that the price of an ounce could approach $5,000 if only 1% of funds from the private segment of the U.S. Treasury bond market entered the gold market.
Since August 29, the precious metal has risen by 12%, breaking out of the $3,200–3,450 per ounce range, where it was for most of the second and third quarters. Analysts attribute the growth not so much to speculative positions as to expectations of the resumption of large-scale purchases by central banks after the traditional summer slump.
In 2025, gold became one of the most profitable commodities on world markets, rising by almost 50% and exceeding the record levels of 1980 when adjusted for inflation. The main drivers were coordinated purchases by central banks and the policy of reducing interest rates by the US Federal Reserve.
As of Thursday, October 2, an ounce of gold was trading at around $3,865, which is equivalent to $124.68 per gram. The market is supported by concerns about the budget problems in the US and pressure on the dollar due to the partial shutdown of the US government.
