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Goldman: "The secret buyer has elevated prices and reset the [Gold] relationship"

Housekeeping: Good Morning.

“The Gold reset is a process, not an event”

Today:

* Premium Analysis: Goldman’s Report in Buy-Season context

* Discussion: "The ‘secret’ buyer has elevated prices and reset the [Gold] relationship"

Premium Analysis:

* Goldman raises target from $2700 to $2900

* Goldman Identifies “Secret” Buyer

* The Gold Reset is Announced

* Goldman Reveals New Gold-Model Fundamentals

1- Goldman raises target from $2700 to $2900

We raise our gold price forecast from $2,700/toz to $2,900/toz for early 2025 for two reasons.

Continues here

2- Goldman Identifies “Secret” Buyer

The…

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