Last year, international Gold prices surged by 27%. Goldman Sachs released a report stating that it no longer expects Gold to reach $3,000 per ounce by the end of this year, pushing the prediction to mid-2026, to reflect a change in the Federal Reserve's expected interest rate cuts from 100 basis points down to 75 basis points.

Goldman Sachs mentioned that it expects the Federal Reserve to slow down the rate of interest rate cuts this year, which will suppress demand for Gold ETFs. After the uncertainty of the US elections diminishes, the inflow of funds into ETFs in December is expected to be below expectations, forecasting the Gold price to be $2,910 per ounce by the end of this year. However, due to higher central bank demand, it is predicted that by mid-next year, the monthly average purchase volume will reach 38 tons.