Metals Market Report Archive
Metals Market Report 04-16-2025

The Mike Fuljenz Metals Market Report

April 2025 - Week 3 Edition

Goldman Sachs Upgrades Its 2025 Gold Prediction From $3,300 to a Possible $4,500

On Tuesday, April 15, the major New York Investment bank, Goldman Sachs, upgraded its 2025 price target for gold from its previous $3,300 to a possible $4,500 per ounce by the end of the year, based on continued issues between China and the U.S.

As usual, the major banks are trend-followers, so as gold rises, we expect more big banks to raise their gold targets but we say the time to buy is now.

Gold Keeps Soaring While U.S. Stocks Decline!

“April is the Cruelest Month,” said poet T.S. Eliot at the beginning of his epic 1922 poem “The Waste Land,” and historically, April has been a good month for stocks but a rather flat month for gold.  So far this month, however, the S&P 500 is down 4.4% and the Dow is down a similar 4.3% through Friday, April 11th, while gold is up over $100 per ounce (+3.2%).

In fact, gold is almost alone among rising assets so far in April since most commodities have suffered from the market’s “tariff tantrums,” which began on April 2nd. Copper is down 10.2%, silver is down 7.6%, natural gas is down 14.4% and crude oil is down 14% to a four-year low. 

The CRB Commodity Index is down 7% since the start of April and the U.S. Dollar Index (DXY) is down 4.25% in April (it’s down 10% in the last three months, as we predicted). A decline in the dollar usually helps boost commodity prices but a sharp dollar decline isn’t helping commodities now.

Gold is rising in this environment in its role as a “crisis hedge” more than as an inflation hedge since the Consumer Price Index (CPI) was flat last week and the Producer Price Index (PPI) was negative. Gold prices increased the most on the two days those Index numbers were released (Thursday and Friday), rising $100 on Thursday and another $100 at one point on Friday. The U.S. Dollar Index (DXY) also tumbled on both those low-inflation days at the end of the week.

 

Metals Market Report Archive >


Important Disclosure Notification: All statements, opinions, pricing, and ideas herein are believed to be reliable, truthful and accurate to the best of the Publisher's knowledge at this time. They are not guaranteed in any way by anybody and are subject to change over time. The Publisher disclaims and is not liable for any claims or losses which may be incurred by third parties while relying on information published herein. Individuals should not look at this publication as giving finance or investment advice or information for their individual suitability. All readers are advised to independently verify all representations made herein or by its representatives for your individual suitability before making your investment or collecting decisions. Arbitration: This company strives to handle customer complaint issues directly with customer in an expeditious manner. In the event an amicable resolution cannot be reached, you agree to accept binding arbitration. Any dispute, controversy, claim or disagreement arising out of or relating to transactions between you and this company shall be resolved by binding arbitration pursuant to the Federal Arbitration Act and conducted in Beaumont, Jefferson County, Texas. It is understood that the parties waive any right to a jury trial. Judgment upon the award rendered by the Arbitrator may be entered in any court having jurisdiction thereof. Reproduction or quotation of this newsletter is prohibited without written permission of the Publisher.