off-the-wire

What major banks forecast as gold breaches $4,000/oz level

Kitco Media
By Reuters
Published:
Updated:
Reuters
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October 8 - Gold surged past $4,000 an ounce for the first time on Wednesday as investors sought the safe-haven asset amid global economic and geopolitical uncertainties, while potential U.S. interest rate cuts further boosted the rally.

Goldman Sachs raised its December 2026 gold price forecast on Monday by $600 to $4,900 per ounce, citing strong Western exchange-traded fund (ETF) inflows and likely central bank buying.

Reporting by Anmol Choubey in Bengaluru Editing by Mark Potter

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