Goldman Sachs: Maintains Optimistic Forecast of $5,400 Gold Price by Year-End

```htmlGolden Ten Data reported on March 25th that Goldman Sachs stated the recent decline in gold prices is roughly in line with past trends, noting that rising interest rate expectations and market volatility are the main factors behind the price drop. The bank's co-head of Global Commodities Research, Dan Struyven, said on Wednesday: "Given our existing pricing framework, this kind of decline is not surprising." He pointed out that higher interest rate expectations have already affected investor demand, especially through ETFs. Extreme market pressure also impacts gold prices, since investors facing margin calls tend to sell gold along with other assets. He further noted that gold's recent rally has exceeded fundamental expectations, with part of the pullback reflecting "a certain degree of normalization." Nevertheless, Goldman Sachs remains optimistic overall, forecasting gold prices will reach $5,400 by the end of the year. The reason provided is that ongoing central bank gold purchases by governments aiming for asset diversification (i.e., shifting to assets with lower political and financial risks) offer support.```