China Expands Export Controls, Adds 20 Japanese Companies to Restricted List 
US Stock Futures Steady as Investors Await Payrolls Data and Monitor Iran Tensions 
Asian Currencies Stay Range-Bound as Investors Eye China Data, RBNZ Outlook and U.S.-Iran Ceasefire 
Central Banks Eye Gold, Reduce Dollar Exposure as AI Adoption Accelerates: OMFIF Survey 
Global Financial Firms Shift Asia Expansion Focus to South Korea as China, India Face Caution 
Indonesia Central Bank to Draft New Regulations After Expanded Economic Growth Mandate 
Chip Stocks Rally as Samsung and SK Hynix’s $1.3 Trillion Investment Plan Boosts AI Optimism 
Supreme Court Backs Lisa Cook, Defends Federal Reserve Independence Against Trump Firing Attempt 
Wall Street Futures Rise Ahead of JOLTS Data, Nike Earnings, and U.S.-Iran Talks 
Dollar Slips Ahead of Key U.S. Jobs Data as Fed Rate Outlook, ECB, and Iran Talks Shape Forex Markets 
Malaysia Central Bank Moves to Support Ringgit Amid Foreign Fund Outflows 
Gold Prices Drop as Fed Rate Outlook and Iran Tensions Weigh on Market 
Japan Signals Preference for Low Interest Rates as BOJ Policy Debate Intensifies 
China Manufacturing PMI Edges Higher in June as Exports and AI Investment Boost Growth 
ECB Keeps July Rate Options Open Amid Iran War Energy Price Risks 
RBI Hits Pause as Geopolitical Storm Clouds Gather 
Goldman Sachs has raised its year-end 2025 gold price forecast to $3,100 per ounce from $2,890, driven by sustained central bank demand. The investment bank predicts that higher central bank purchases, now estimated at 50 tonnes per month (up from 41 tonnes), will boost gold prices by 9% by year-end, alongside increased ETF inflows as interest rates decline.
Goldman noted that if monthly purchases reach 70 tonnes, gold could climb to $3,200, while steady Federal Reserve rates could see prices at $3,060. Persistent policy uncertainty, including trade tensions, may push gold to $3,300 due to prolonged speculative buying. Rising U.S. fiscal concerns could further lift prices to $3,250 by December 2025.
The bank reiterated its "Go for Gold" trading strategy, emphasizing gold as a hedge against trade tensions, Fed risks, and recession threats. Inflation fears and U.S. debt sustainability could also drive central banks, especially those holding significant U.S. Treasury reserves, to increase gold acquisitions. Goldman expects these factors to sustain strong gold demand, bolstering its bullish outlook.
