The Financial Post reports in its Tuesday, April 15, edition that Goldman Sachs and UBS Group issued another round of bullish calls for gold prices in 2025. A Bloomberg dispatch to the Post reports that Goldman analysts including Lina Thomas now see gold rallying to $3,700 an ounce by the end of this year -- with prices set to hit $4,000 an ounce by mid2026 -- while UBS strategist Joni Teves pointed to $3,500 an ounce by December, 2025, according to two separate notes on Friday (all figures U.S.). The new targets come after gold surged 6.6 per cent last week, with prices clinching a fresh record above $3,245 an ounce on Monday. The two banks issued their previous outlook upgrades in March, signalling strong bullish consensus on bullion in an environment of uncertainty as President Donald Trump's trade policies roil global markets. The Goldman analysts said official-sector purchases are likely to average about 80 tons per month this year -- up from their previous estimate of 70 tons -- and reiterated their long gold trade recommendation. Rising recession risks would also likely juice inflows into bullion-backed exchange traded funds, they added.