Goldman Reiterates $4,000 Target, Counters Citi's Bear Call

Housekeeping: Good Morning. “Comex is dying”Topic: * Goldman Reiterates $4,00 Target, Counters Citi's Bear CallMarket Analysis: In a note from Precious metals analysts Lina Thomas and Daan Struyven, (the same who most recently stated Gold and Oil are buys), Goldman underscores the structural underpinnings of gold demand, driven not by retail investors or speculative flows, but by central bank accumulation suprises. They also note Despite gold trading near all-time highs due to Middle East tensions, speculative positioning remains curiously subdued: “Speculative inflows into gold have been muted and positioning remains unusually low given the macro uncertainty.” [ or perhaps Comex is dying, and buying is moving eastward]Goldman also holds the line on its high-conviction forecast:“We maintain our forecast…$3,700/toz by end-2025 and $4,000 by mid-2026, and we reiterate our long gold trade recommendation.” [ on continued CB demand* Full analysis in the Premium post: Goldman Stands Firm on $4,000 Call Post Citi's Bear CallRelated Posts:Later Today and This Weekend:Data on Deck: Fed Week* MONDAY, JUNE 16 8:30 am Empire State manufacturing* TUESDAY, JUNE 178:30 am U.S. retail sales* WEDNESDAY, JUNE 18 8:30 am Housing starts, 2:00 pm FOMC rate decision * THURSDAY, JUNE 19 None scheduled, Juneteenth holiday* FRIDAY, JUNE 20 8:30 am Philadelphia Fed survey* Full calendarSummary and Final Market Check… This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit vblgoldfix.substack.com/subscribe