Goldman Sachs: Traditional logic cannot explain gold price fluctuations, gold price still has room for growth Goldman Sachs has raised its year-end gold price forecast from $2300 per ounce to $2700 per ounce. Goldman Sachs points out that traditional logic cannot explain gold price fluctuations, and in the short term, given the continued existence of geopolitical tensions, gold still has room for growth. However, there is also another voice in the market, suggesting that gold is currently in an overbought state. ANZ Bank has indicated that gold prices may experience a pullback.