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Goldman Sachs strategists predict a prolonged period of dollar strength, driven by Donald Trump"s proposed steep tariffs. The dollar has been rallying since late September, challenging the bank"s previous outlook of a gradual decline from its high value.
ServiceTitan, a cloud software provider for contractors, has filed to go public on Nasdaq under the ticker "TTAN." The company reported a $35.7 million net loss on $193 million in revenue for the quarter ending July 31, with revenue growth of 24% year-over-year. Founded in 2007, ServiceTitan is shifting focus towards larger clients while competing with firms like Salesforce and SAP.
Goldman Sachs maintains its forecast of $3,000 per ounce of gold by December 2025, while UBS targets $2,900, citing US political uncertainty and structural demand from central banks as key factors. Both banks recommend gold as a hedge against inflation and geopolitical risks, with UBS suggesting a 5% allocation in a balanced dollar portfolio. They also see $2,500 as a strong support level for gold prices.
Goldman Sachs maintains its forecast for gold to reach $3,000 per ounce by December 2025, citing strong structural demand from central banks and potential Fed rate cuts as key factors. UBS is slightly less optimistic, predicting a price of $2,900 and suggesting that current declines present a buying opportunity, with strong support at $2,500. Both firms highlight gold"s role as a hedge against inflation and geopolitical risks.
Goldman Sachs maintains its forecast for gold at $3,000 per ounce by December 2025, citing structural demand from central banks and potential Fed rate cuts as key drivers. UBS is slightly less optimistic, targeting $2,900, and suggests capitalizing on price declines, with strong support at $2,500. Both firms highlight gold as a hedge against inflation and geopolitical risks, recommending a 5% allocation in a balanced dollar portfolio.
Goldman Sachs is planning to spin out its digital-assets platform into a new company aimed at enabling large financial firms to create, trade, and settle financial instruments using blockchain technology. Discussions with potential partners are underway, with the goal of executing the spin-out within the next 12 to 18 months, pending regulatory approvals, according to Mathew McDermott, the bank"s global head of Digital Assets.
China is poised to allow a gradual weakening of the yuan in response to potential tariffs under a Trump administration, moving away from its long-standing commitment to currency stability. The yuan has already declined about 3% this quarter, with economists anticipating further depreciation as part of a broader strategy that may include interest rate cuts and increased budget deficits. While a drop beyond 8 per dollar is deemed unlikely, the People's Bank of China is expected to navigate these challenges carefully.
Goldman Sachs analysts, including Daan Struyven, project gold prices could reach $3,000 an ounce by December 2025, driven by increased central bank demand and anticipated Federal Reserve rate cuts. The recent rally in gold has been supported by official-sector buying and concerns over U.S. fiscal sustainability, with a potential boost from escalating trade tensions.
Goldman Sachs predicts a significant rally in gold prices, forecasting they could reach $3,000 an ounce by December 2025. This surge is driven by increased central bank demand and anticipated U.S. interest rate cuts, with additional support from flows into exchange-traded funds. Analysts suggest that these trends could extend gains during Donald Trump's presidency.
Wall Street brokerages are becoming more cautious on Chinese stocks due to ongoing deflationary pressures and geopolitical tensions affecting earnings prospects. Morgan Stanley has slightly underweighted Chinese equities, while Goldman Sachs has lowered its MSCI China Index target to align with the less favorable macroeconomic environment.
The Goldman Sachs Group, Inc.
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