Investment Banks Bullish on Gold, Cautious on Silver
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1h ago
0mins
Should l Buy GS?
Source: CNBC
- Gold Market Outlook: UBS forecasts that gold prices will reach $6,200 per ounce next month, maintaining a bullish long-term stance despite increased volatility, indicating confidence in the gold market's resilience.
- Silver Price Volatility: After a remarkable 150% annual gain, silver has recently plummeted over 30%, with UBS suggesting that prices need to fall further to attract investors, reflecting a cautious market sentiment towards silver.
- Investor Strategy Adjustment: The high volatility necessitates that investors carefully assess the expected returns on silver, as UBS warns that current price levels may lead to reduced industrial demand, impacting future market performance.
- Market Uncertainty: With the U.S. midterm elections approaching, concerns about policy implementation are rising, and both BofA and Goldman Sachs express cautious optimism about the future trajectories of gold and silver, emphasizing the need to monitor market dynamics closely.
Trade with 70% Backtested Accuracy
Stop guessing "Should I Buy GS?" and start using high-conviction signals backed by rigorous historical data.
Sign up today to access powerful investing tools and make smarter, data-driven decisions.
Analyst Views on GS
Wall Street analysts forecast GS stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for GS is 848.09 USD with a low forecast of 604.00 USD and a high forecast of 1048 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
13 Analyst Rating
6 Buy
7 Hold
0 Sell
Moderate Buy
Current: 938.990
Low
604.00
Averages
848.09
High
1048
Current: 938.990
Low
604.00
Averages
848.09
High
1048
About GS
The Goldman Sachs Group, Inc. is a global financial institution that delivers a range of financial services to a large and diversified client base that includes corporations, financial institutions, governments and individuals. Its segments include Global Banking & Markets, Asset & Wealth Management and Platform Solutions. The Global Banking & Markets segment offers a range of services, including financing, advisory services, risk distribution, and hedging for its institutional and corporate clients. It facilitates client transactions and makes markets in fixed income, equity, currency and commodity products. The Asset & Wealth Management segment manages assets and offers investment products across all asset classes to a diverse set of clients. It also provides investing and wealth advisory solutions. The Platform Solutions segment includes consumer platforms, such as partnerships offering credit cards and point-of-sale financing, and transaction banking and other platform businesses.
About the author

Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
- Funding Support: LearnWell has received investment from Goldman Sachs' Sustainable Investing division to accelerate its growth in academic and mental health services, furthering its mission to provide equitable services for students facing behavioral challenges.
- Service Reach: LearnWell serves over 51,000 students annually, delivering 629,000 hours of instruction, aimed at helping students absent due to mental and behavioral health issues return to the classroom, significantly improving their mental health and academic performance.
- Strategic Partnership: The collaboration with Goldman Sachs marks a pivotal moment for LearnWell, as it leverages Goldman’s expertise and resources in scaling social impact companies to enhance its service offerings and expand its national footprint.
- Social Impact Investment: Goldman Sachs' investment in LearnWell aligns with its strategy of investing in businesses with strong fundamentals and positive social impact, further solidifying LearnWell's ideal position within the education investment portfolio.
See More
- Weak Economic Growth: The real GDP growth for the first three quarters of 2025 was only 2.51%, falling short of the 10-year (2.75%), 30-year (2.58%), and 50-year (2.84%) averages, indicating that Trump's tariff policies have failed to effectively stimulate the economy and may lead to future market declines.
- AI Support: According to the Federal Reserve Bank of St. Louis, AI spending contributed 0.97 percentage points to GDP growth in the first nine months of 2025, suggesting that without this investment, GDP growth would have been merely 1.54%, highlighting the economy's reliance on technological advancements rather than tariff policies.
- Valuation Risks: The S&P 500 currently trades at a forward P/E ratio of 22.2, a level only sustained during the dot-com bubble and the COVID-19 pandemic, indicating that if companies fail to meet high expectations, a significant market downturn could occur.
- Midterm Election Uncertainty: Historical data shows that the S&P 500 experiences a median intra-year drawdown of 19% during midterm election years, suggesting that in 2026, the market faces multiple pressures from high valuations, tariffs, and political uncertainty, raising the risk of a bear market.
See More
- Economic Growth Stagnation: Despite Trump's claims that tariffs have bolstered economic growth, GDP growth was actually below average during the first three quarters of 2025, indicating that tariff policies have not delivered the expected economic boost.
- Valuation Risks: The S&P 500's forward price-to-earnings ratio stands at 22.2, a level historically sustained only during the dot-com bubble and the COVID-19 pandemic, suggesting a heightened risk of an impending bear market.
- Midterm Election Uncertainty: The S&P 500 has experienced a median intra-year drawdown of 19% during midterm election years, indicating that the market may face significant downward pressure in 2026 due to policy uncertainty.
- Investor Opportunities: Despite the challenges posed by high valuations and tariffs, historical data shows that every market drawdown has presented buying opportunities, suggesting that future market corrections could again serve as advantageous entry points for investors.
See More
- Gold Market Outlook: UBS forecasts that gold prices will reach $6,200 per ounce next month, maintaining a bullish long-term stance despite increased volatility, indicating confidence in the gold market's resilience.
- Silver Price Volatility: After a remarkable 150% annual gain, silver has recently plummeted over 30%, with UBS suggesting that prices need to fall further to attract investors, reflecting a cautious market sentiment towards silver.
- Investor Strategy Adjustment: The high volatility necessitates that investors carefully assess the expected returns on silver, as UBS warns that current price levels may lead to reduced industrial demand, impacting future market performance.
- Market Uncertainty: With the U.S. midterm elections approaching, concerns about policy implementation are rising, and both BofA and Goldman Sachs express cautious optimism about the future trajectories of gold and silver, emphasizing the need to monitor market dynamics closely.
See More
- Extreme Price Volatility: On Thursday, spot silver prices fell by 13% to $76.97 per ounce, while futures dropped over 8%, reflecting extreme market volatility that undermines investor confidence.
- Speculative Trading Impact: Analysts indicate that recent price swings are primarily driven by speculative flows and leveraged positions rather than physical demand, suggesting unstable market sentiment that could lead to further price corrections.
- Increased Margin Requirements: The CME Group raised margin requirements following last Friday's steep sell-off, a move that may suppress speculative activity and impact market liquidity, potentially exacerbating price volatility.
- Market Comparisons: The volatility in silver prices has drawn parallels to meme stocks like GameStop from 2021, with market watchers warning that silver prices have detached from sustainable levels, which could lead to increased speculative trading and market instability.
See More
- Investment for Growth: LearnWell has received funding from Goldman Sachs' Sustainable Investing division to further its mission in providing mental health and behavioral services for students, which is expected to significantly enhance its service capabilities and reach.
- Service Impact: LearnWell serves over 51,000 students annually, delivering more than 629,000 hours of instruction, helping students facing mental health challenges return to the classroom and improve their academic performance and mental well-being.
- Strategic Partnership: The collaboration with Goldman Sachs marks a pivotal moment for LearnWell, as it leverages Goldman’s expertise in scaling social impact companies to enhance its service offerings and expand its footprint nationwide.
- Market Demand: With the increasing demand for comprehensive student mental and behavioral health services, LearnWell has established itself as a vital partner to hospitals and school districts, providing high-quality, accessible care that significantly impacts student well-being and academic success.
See More











