The price of gold continues to rise, arousing the interest not only of expert investors, but also of an ever wider audience. In May 2025, the forecasts formulated by Goldman Sachsone of the giants of world finance, have rekindled the debate: it really is The right time to invest in gold?
The price of gold grows, well refuge par excellence
Before answering the question, it is useful to remember why gold has been a safe harbor for centuries in times of economic and geopolitical uncertainty. Not linked to the performance of a single economy or a company, gold is perceived as a “neutral” value reserve, which maintains its purchasing power over time. In moments of crisis, galloping inflation or financial instability, the interest in gold grows, often parallel to the decline in trust towards currencies and equity markets.
According to the last note of Goldman Sachs of 6 May 2025, the American business bank reiterated a structurally bullish vision on the price of gold, with a basic forecast equal to $ 3,700 ONCIA by the end of 2025. This is not a simple optimistic hypothesis: analysts provide even more extreme and favorable scenarios for yellow metal.
In the event that a recession occurs in the coming months, in fact, Goldman Sachs hypothesizes that there would be a strong acceleration of the flows towards the ETF related to gold (Exchange-Traded Funds), which could push the quotation Up to $ 3,880 the ounce. And that’s not all: in high systemic risk contexts – as fears about the independence of the Federal Reserve or radical changes in the policy of reservations of the United States – the price of gold could even come to 4,500 dollars by 2025.
While, in the long run, analysts glimpse a target of $ 4,000 by half 2026: an unthinkable figure until a few years ago, but today plausible in the light of international tensions, the fragility of the banking system and the return of inflation as a concrete threat.
Why does gold continue to climb?
The raised trend of gold is supported by a series of converging factors. First of all, global macroeconomic uncertainty remains high: from the commercial war between the United States and China to the aftermath of the prolonged conflict between Russia and Ukraine, without forgetting the tensions in the Middle East and the slowdown in the main economies Westerners.
Secondly, the Central banks policies – and in particular those of the Federal Reserve – Many investors are pushing to look for alternative shelters. If on the one hand the real interest rates (i.e. net of inflation) remain contained, on the other the fear of a sudden change of course or political pressure on the FED is spread, which would compromise its independence and credibility.
Finally, the growing interest in physical gold and ETFs related to precious metal is also visible in market data: the gold reserves central banks are increasing, especially in emerging countries, while the demand retail (coins, ingots, jewelry) records record numbers.
Is this the right time to invest?
Returning to the initial question – Is this the right time to invest in gold? – The answer depends on several factors, but the current trend invites at least to reflection.
If you look at the short-medium term perspective, gold can offer one effective protection against inflationgeopolitical risk and financial instability. An investment today, with the price in area 2.300-2,400 dollars, the ounce (indicative value at the beginning of May), could bring relevant benefits in the event of confirmation of Goldman Sachs’ forecasts.
Of course, we must never forget that no investment is without risks. The price of gold, although less volatile than other assets, can still undergo fluctuations. For example, a return of inflation, a stabilization of the markets or more clear and reassuring monetary decisions could curb the running of the precious metal.
Gold is not the solution to all evils or miraculous investment. But in an uncertain global context, marked by geopolitical shocks, fears of recession and doubts about the sealing of monetary policies, represents a valid component To be inserted in a well -balanced wallet.
Who has never invested in gold It could evaluate the gradual entry, taking advantage of the price oscillations and without focusing everything on a single asset. Those who are already exhibited could review their strategy in the light of the new scenarios outlined by Goldman Sachs.
