Goldman Sachs: Gold price baseline forecast of $3,100 at the end of 2025 poses upside risks

Goldman Sachs expects the price of gold to be around $3,100 by the end of 2025, which is its baseline forecast (i.e. the most likely scenario). In addition, their forecast range is between $3,100 and $3,300, but believes that the price may rise beyond this range, and there is an upside risk (i.e. the price of gold may rise above $3,300).