Goldman Sachs expects the dollar to rise significantly, which will put pressure on gold and currencies

Goldman Sachs' Forecast: Goldman Sachs expects the US dollar to rise by about 5% over the next year.

Reason for Dollar Strength: This is due to the strong US economy and the possibility of higher tariffs, which might reduce the need for monetary easing.

Impact on Gold Prices: A stronger dollar could put pressure on gold prices because gold becomes less attractive to foreign buyers when priced in dollars.

Currency Outlook: Goldman Sachs believes the US dollar will continue to strengthen even after this upgrade.