New Delhi: Gold's shine is continuously increasing in 2024 and it has passed various milestones. However, after Donald Trump's victory in the US presidential elections, the dollar strengthened, causing a slight decline in gold prices. But Goldman Sachs analysts believe that gold prices may rise again under the Trump administration. Goldman Sachs estimates that next year, i.e. in 2025, gold may reach new heights and by December 2025 its price may reach $3000 per ounce.

According to Goldman, gold will be supported by the purchases by central banks and the decision of the US Federal Reserve to cut interest rates. Apart from this, increasing investments in ETFs (exchange-traded funds) will also strengthen gold prices. Currently, the price of gold is around $2,590 per ounce, whereas last month it had reached the level of $2,790.
 

The Shine of Gold is getting this support

This year, many factors are helping gold shine. The government's massive purchase of gold and the Fed's policy easing has increased its prices. Goldman says that rising trade tensions and concerns about the US fiscal crisis can further support gold prices. Due to these reasons, gold prices may see a rise in the coming times, especially in 2025, when gold prices may touch historic highs.

Goldman's forecast on crude oil

Goldman Sachs has also made a prediction about crude oil, and they believe that the price of Brent crude can be between $70 and $85 per barrel in 2025. However, if the Trump administration imposes a ban on Iran's oil exports, then some risks can be seen in this sector. Apart from this, America's support of Israel can increase pressure on Iran's oil assets, which can lead to further fluctuations in crude oil prices.