Citing The Daily Hodl, Daan Struyven, co-head of global commodities research at Goldman Sachs, highlights a surge in gold demand driven by global economic uncertainty and fears of a weakening US dollar. In an interview on CNBC's Squawk Box, Struyven notes that both investors and central banks are increasingly turning to gold as a safe-haven asset, influenced by US President Donald Trump's tariff policies. Struyven forecasts gold prices could reach $3,300 per ounce this year, with a base case of $3,100, as central bank purchases and ETF holdings rise significantly. He points out that central bank gold buying in January was seven times higher than the pre-2022 average, reflecting concerns over the safety of the dollar and Treasury holdings. As of the report, gold is trading at $2,994 per ounce.
Goldman Sachs: Gold Demand Surges Amid US Dollar Concerns
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