Asian Currencies Steady as Markets Await U.S. Jobs Data 
Gold Prices Steady as Hormuz Tensions Fuel Fed Rate Concerns 
South Korean Won Leads Asian FX Losses as Dollar Rises 
BOJ Seen Holding Rates at 1% While Keeping Inflation Risk Warning 
China Exports Beat July Forecasts as AI Demand Fuels High-Tech Trade 
Gold Prices Surge 7% as Dollar Falls, Fed Rate Hike Bets Ease 
Philippine GDP Growth Slows to 2.3% in Q2 
China Trade Surplus Beats Forecasts in July as Exports Stay Strong 
Japan PM Sanae Takaichi Unveils Growth Plan as BOJ Independence Concerns Lift Bond Yields 
US Stock Futures Flat as Iran Strait of Hormuz Demands Fuel Oil Concerns 
Oil Prices Rise as Hormuz Reopening Remains Uncertain 
Australia Inflation Cools as Core CPI Misses Forecasts, Easing RBA Rate Hike Pressure 
Chile Central Bank Holds Interest Rate at 4.5% as Inflation and Global Risks Persist 
Japan Economy Minister Downplays Inflation Risks Despite BOJ Warning 
Asian Stocks Cautious Ahead of US Jobs Data as Oil Rises 
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.
