Japan’s Finance Minister Signals Alignment With BOJ as Rate Hike Speculation Grows 
Tech Stocks Lift S&P 500 as Fed Rate-Cut Expectations Rise 
China Urged to Prioritize Economy Over Territorial Ambitions, Says Taiwan’s President Lai 
BOJ Faces Pressure for Clarity, but Neutral Rate Estimates Likely to Stay Vague 
Singapore Maintains Steady Monetary Outlook as Positive Output Gap Persists into 2025 
Oil Prices Hold Steady as Ukraine Tensions and Fed Cut Expectations Support Market 
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Asian Currencies Steady as Markets Await Fed Rate Decision; Indian Rupee Hits New Record Low 
UK Raises Deposit Protection Limit to £120,000 to Strengthen Saver Confidence 
Kazakhstan Central Bank Holds Interest Rate at 18% as Inflation Pressures Persist 
South Korea Posts Stronger-Than-Expected 1.3% Economic Growth in Q3 
BOK Expected to Hold Rates at 2.50% as Housing and Currency Pressures Persist 
Trump Administration Plans Major Rollback of Biden-Era Fuel Economy Standards 
RBA Signals Possible Rate Implications as Inflation Proves More Persistent 
RBI Cuts Repo Rate to 5.25% as Inflation Cools and Growth Outlook Strengthens 
Goldman Sachs has raised its year-end 2025 gold price forecast to $3,100 per ounce from $2,890, driven by sustained central bank demand. The investment bank predicts that higher central bank purchases, now estimated at 50 tonnes per month (up from 41 tonnes), will boost gold prices by 9% by year-end, alongside increased ETF inflows as interest rates decline.
Goldman noted that if monthly purchases reach 70 tonnes, gold could climb to $3,200, while steady Federal Reserve rates could see prices at $3,060. Persistent policy uncertainty, including trade tensions, may push gold to $3,300 due to prolonged speculative buying. Rising U.S. fiscal concerns could further lift prices to $3,250 by December 2025.
The bank reiterated its "Go for Gold" trading strategy, emphasizing gold as a hedge against trade tensions, Fed risks, and recession threats. Inflation fears and U.S. debt sustainability could also drive central banks, especially those holding significant U.S. Treasury reserves, to increase gold acquisitions. Goldman expects these factors to sustain strong gold demand, bolstering its bullish outlook.
