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    Goldman Sachs Says Gold Could Test $5,000

    Ian Cooper
    Friday, September 19, 20254 min read
    Goldman Sachs Says Gold Could Test $5,000








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    Gold is still hitting higher highs.

    In fact, since 2025 began, gold is up 40%. Since 2024, it’s up 78%. Now at $3,661, it could see even higher highs, with Goldman Sachs still calling for the metal to test $4,000 by next year.

    Goldman also believes gold could test $5,000 if the economy tilts toward recession.

    Fueling upside, the Federal Reserve just cut interest rates by 25 basis points, its first reduction since December. It also signaled two more cuts, with a third by early 2026.

    Plus, central banks are still buying gold.

    As noted by Yahoo Finance, “Gold's new records come as foreign central bank holdings of the precious metal have topped US Treasury's for the first time since 1996, according to Bloomberg data compiled by Crescat Capital macro strategist Tavi Costa, posted on X.”

    Also, “If you think this buying streak is ending, just look at what happened in the 1970s. This is likely the beginning of one of the most significant global rebalancing we've experienced in recent history, in my view,” added Tavi Costa on X.

    That being said, let’s revisit some of our favorite gold ETFs.

    VanEck Vectors Gold Miners ETF

    One of the best ways to diversify at less cost is with an ETF, such as the VanEck Vectors Gold Miners ETF (SYM: GDX), we said earlier this month. In fact, when we last mentioned this ETF on September 4, it traded at around $64.

    Today, it’s up to $68.66.

    At this point, if you want to invest in the ETF, wait for a pullback. It is over-extended at current prices. Longer-term, we’d like to see it closer to $75.

    Sprott Junior Gold Miners ETF

    With an expense ratio of 0.5%, the Sprott Junior Gold Miners ETF (SYM: SGDJ) seeks to replicate the performance of its underlying index, the Solactive Junior Gold Miners Custom Factors Index. When we mentioned this ETF on September 4, it traded at around $60. It’s now up to $63.78. Much like GDX, wait for a pullback if you haven’t jumped in yet.

    Global X Gold Explorers ETF

    With an expense ratio of 0.65%, the Global X Gold Explorers ETF (SYM: GOEX) invests in companies involved with gold deposit exploration.

    When we mentioned this ETF on September 4, it traded at around $57. It’s now up to $60.65.

    Not to sound like a broken record, but wait for this one to pull back before investing in it. From its last traded price of $60.65, we’d like to see it closer to $65 per share.

    Related Reading: You’re Being Set Up — Here’s Your Exit

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