Goldman Sachs Predicts No Tariff Imposition on Gold

In a recent research note, Goldman Sachs has maintained its stance that there will be no tariffs imposed on gold. The bank's assumption is based on the observation that there have been no actual moves to implement tariffs since a counter tariff of 10% became effective in April.

The bank continues to predict that gold spot prices in London will be $3700 per ounce by the end of 2025 and will reach $4000 by mid-2026. This forecast aligns with their long-term perspective on market trends.

On Friday, U.S. gold futures surged to an unprecedented level following a notice on the Customs and Border Protection website indicating that Washington might impose country-specific import duties on widely traded gold bars. This decision, if enacted, could potentially disrupt global supply chains for the precious metal.

However, these futures trimmed their gains after a statement from an official suggested that the White House plans to issue an executive order soon aiming to "clarify misinformation" about tariffs on gold bars. The move reflects efforts to mitigate confusion surrounding the potential imposition of trade measures.