BlockBeats news, on September 9, Anthony Kim, Global Head of Metals Trading at Goldman Sachs, stated that the seven-month correction in gold since February does not signal the end of the bull market, but rather a "prolonged pause." He noted that uncertainty regarding the policy stance of the new Federal Reserve Chair Walsh, along with disruptions in energy markets caused by the Iran conflict affecting capital flows, have temporarily pressured gold prices.
However, Goldman Sachs still maintains a bullish outlook, viewing the area around $4,000 as a "substantial bottom" supported by sovereign buyers and institutional capital. Anthony Kim suggests that if gold prices approach $4,000 due to data volatility ahead of the Fed’s September decision, investors may consider gradually building long positions.
Goldman Sachs previously estimated that, driven by factors such as continued central bank gold purchases, the price of gold could rise to $4,900 per ounce by the end of 2026.