Gold rallying to its record high amidst a general slump in the crypto market gave another opportunity to Peter Schiff to display his skepticism of Bitcoin.

Gold’s surge to a new high of $3,060 underscores its bullish momentum, with a close above $3,058 confirming a trend continuation.

Goldman Sachs on Wednesday raised its end-2025 gold price forecast to $3,300 per ounce from $3,100, citing stronger-than-expected ETF inflows and sustained central bank demand. Goldman Sachs also raised its forecast range to $3,

KEY TAKEAWAYS Gold prices jumped Thursday, after Goldman Sachs raised its year-end forecast for the commodity to $3,300 per troy ounce level.Analysts Lina Thomas and Daan Struyven said their increased year-end target reflected higher-than-estimated inflows into gold by exchange-traded funds as well as “continued strong central bank gold demand.