Goldman Sachs: Maintains an overall optimistic outlook for gold, with a year-end target price of $5,400/oz.

According to Mars Finance, on March 25th, Goldman Sachs stated that the recent decline in gold prices is largely consistent with past trends, with rising interest rate expectations and market volatility being the main factors driving the price drop. Dan Struven, Head of Global Commodities Research at Goldman Sachs, said today: "Given our existing pricing framework, this decline is not surprising. Gold's recent rally has exceeded fundamental expectations, and some of the pullback reflects a 'degree of normalization.'" However, Goldman Sachs maintains its optimistic overall forecast, predicting that gold prices will reach $5,400 per ounce by the end of the year. The reason given is the continued central bank gold purchases by governments to diversify their assets (i.e., shifting towards assets with 'lower political and financial risk').