In light of the Russia-Ukraine war, analysts at Goldman Sachs raised their gold price target over different time horizons.

Key quotes

“Targets raised for:

3-month horizon to USD2,300 vs. $1950 previous.

6-month horizon to USD2,500, from $2050 previous.

12-month horizon to USD2,500 vs. $2150 previous.”

“An increase in demand from consumers, investors, central banks due to the rising geopolitical uncertainty.”