XAU/USD: Gold Prices Jump 2% as Dollar Charge Eases, Goldman Sees Bullion at $3,000

Precious metal snapped a six-day losing streak to reclaim $2,600 per ounce after Goldman Sachs analysts urged investors to “go for gold.”

• Gold prices XAUUSD popped 2% to kick off the trading week. The precious metal regained $2,620 per ounce early Tuesday after falling last week to a low of $2,536. It was gold’s worst weekly performance since 2021 as it washed out more than 4.5% of its valuation against the backdrop of the powerful ‘Trump pump’ that lifted risk assets. In other words, no one really cared for safe-haven assets with stocks and crypto pumping to the moon.
• But not on Monday. And not after investment banking heavyweight Goldman Sachs GS advised clients to “go for gold.” That’s right — analysts at the Wall Street titan see gold prices soaring to $3,000 by December 2025 and laid out all the reasons for investors to scoop up some of the precious metal. In a note, Goldman analysts, including Daan Struyven, cited increased central bank demand, cuts to interest rates, geopolitical tensions and, thanks to Trump, looming trade uncertainty.
• Also, concerns over the US fiscal sustainability may weigh on the US dollar and push bullion prices higher. Gold hit a record high of $2,790 on October 30 but it’s been mostly downhill since then (at least until yesterday.) In that time span, the yellow commodity, regarded as a safe-haven in global markets, has lost 6.5% of its valuation. Early Tuesday, an ounce was going for about $2,620, looking to add a second straight day of gains to its string of wins.