• Goldman Sachs expects gold’s rally to continue, raising its year-end price target to $3,100 per ounce from $2,890. The bank attributes a 9% price boost to strong central bank demand and ETF inflows, while also citing President Trump’s tariff policies as a potential upside risk. If policy uncertainty persists, Goldman sees gold reaching $3,300 by year-end. Meanwhile, UBS forecasts a $3,200 target, emphasizing gold’s status as a safe-haven asset in a volatile macro environment.

• Gold has surged 9.7% this year to $2,925, hovering near record highs after a 43% gain in the past year. Silver is up over 40%, and platinum has climbed 10%. Gold miners have thrived—Barrick Gold shares have risen 16%, while the SPDR Gold Shares ETF is up 10%. Barrick reported its highest net earnings in a decade, with $1.4 billion in Q4 operating cash flow and $700 million in dividends. Despite the rally, some traders warn of short-term exhaustion, suggesting a pause before further gains.