Overview

• December Comex gold briefly hit $4,000.05 per ounce on October 7 before trading at $3,996.5 at 7:27 MSK, marking a fresh intraday record.
• Market commentary cited probabilities above 80% for Federal Reserve rate cuts in October and December, a backdrop that typically weakens the dollar and supports gold.
• Coverage noted the partial U.S. government shutdown as a factor bolstering safe‑haven demand for the metal.
• Analyst Nikolay Maslikov highlighted sustained central‑bank purchases for reserve diversification and kept a 2025 average price forecast of $3,250, with downside risk if geopolitical tensions ease.
• Goldman Sachs raised its gold target to $4,900 for December 2026, pointing to strong ETF inflows, likely central‑bank buying, dollar softness, and rising retail interest, with projected central‑bank purchases of 80 tons in 2025 and 70 tons in 2026.