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Goldman Sachs: Silver Volatility to Persist, $5400 Gold Price Target Faces Upside Risk

2026.01.27 23:33:21

January 27 — Goldman Sachs says silver’s sharp two-way price volatility could persist, while noting its forecast for gold to hit $5,400 by year-end still carries notable upside risks. For aluminum, the bank has trimmed its 2026 global supply surplus forecast to 800,000 tonnes from 1.1 million tonnes, and kept its 2027 surplus outlook at 1.6 million tonnes. It has, however, raised its 2028 surplus projection to 2.3 million tonnes from 1.25 million tonnes. On prices, Goldman has lifted its Q4 2026 aluminum price forecast to $2,500 per tonne from $2,350, and maintained its 2027 average price outlook at $2,400 per tonne. (Source: FX168)
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