%{{tag.tag}} {{articledata.title}} {{moment(articledata.cdate)}} @{{articledata.company.replace(" ","")}} comment U.S. investment bank %GoldmanSachs (NYSE: $GS ) remains bullish on the outlook for %Gold bullion, having maintained its price target on the precious metal of $2,700 U.S. per ounce. Analysts at Goldman Sachs say they continue to expect that gold’s price will benefit from upcoming interest rate reductions in the U.S. and continued demand within China. While the price of gold is currently at $2,400 U.S. per ounce and near an all-time high, Goldman Sachs sees more gains ahead, especially as interest rates move lower in coming months. Goldman Sachs also cited an “unshakeable bull market” for gold in China, where economic uncertainty is boosting demand amongst both the central bank and ordinary citizens. China's central bank continues with its gold-buying spree and is stockpiling hundreds of tonnes of the metal, says Goldman Sachs in a note to clients. Other central banks around the world are also buying gold bullion amid rising geopolitical uncertainties and concerns about America’s sovereign debt. Goldman Sachs highlights that central bank gold purchases have increased threefold since Russia invaded Ukraine in 2022. The note concludes by stating that the analysts remain highly optimistic about the long-term demand outlook for gold. Goldman Sachs’s stock has risen 37% over the last 12 months and currently trades at $493 U.S. per share.