Gold rose by the most since August as Goldman Sachs Group Inc. reiterated a forecast for prices to reach $3,000 an ounce next year, with analysts advising investors to “go for gold.”

Gold advanced after posting its biggest weekly drop since 2021 as traders weighed the outlook for Federal Reserve rate cuts, given Donald Trump’s return to the White House next year.

The top bosses from Goldman Sachs Group Inc. and Morgan Stanley called for greater transparency from China and for eased movement of capital to restore the appetite of global investors.

SINGAPORE (Reuters) -Hong Kong stocks are cheap but may miss out on the benefits of China's economic support, analysts at Goldman Sachs said, while Morgan Stanley warned tensions and tariffs could hurt,

Goldman Sachs and Morgan Stanley downgraded their forecasts for Hong Kong and Chinese stocks, citing economic concerns and potential political impacts. While bullish on mainland China, Goldman Sachs believes Hong Kong will see limited growth and recommends mainland investments due to lower global sensitivity.

Goldman Sachs will spin out its blockchain platform to enable large financial institutions to use blockchain technology for financial instruments.

Goldman Sachs is planning to spin out its cryptocurrency platform to create a new company focused on creating and trading digital assets, according to Bloomberg.