Gold prices to keep soaring in 2026, Goldman Sachs hikes year-end forecast to $5,400

Goldman Sachs has raised its end-2026 gold value forecast to $5,400 per ounce, up from $4,900/oz, as sturdy demand from personal traders and sustained shopping for by emerging-market central banks proceed to underpin the metallic’s rally.

In a be aware dated Wednesday, the brokerage mentioned private-sector diversification patrons—who’ve been accumulating gold as a hedge towards international coverage uncertainty and geopolitical dangers—are unlikely to liquidate their holdings in 2026. This, Goldman mentioned, successfully lifts the bottom stage for costs going into subsequent 12 months.

Spot gold climbed to an intraday peak of $4,887.82 per ounce on Wednesday. The safe-haven metallic has gained greater than 11 per cent thus far in 2026, extending a blistering rally after surging 64 per cent final 12 months, pushed by expectations of simpler financial circumstances, heightened geopolitical tensions, and chronic central-bank demand.

Goldman additionally expects official sector shopping for to stay sturdy, forecasting central financial institution purchases to common round 60 tonnes in 2026.

Rising-market central banks, particularly, are more likely to proceed diversifying their foreign-exchange reserves away from conventional belongings and into gold, the financial institution mentioned.
The bullish outlook is echoed throughout Wall Road. Commerzbank final week raised its gold value forecast to $4,900 by the tip of this 12 months, citing elevated safe-haven demand amid international financial uncertainty. Different main banks have additionally upgraded their value targets, pointing to declining actual rates of interest, elevated fiscal dangers, and geopolitical instability as key drivers supporting bullion costs.

Whereas analysts differ on the tempo of additional beneficial properties, many count on gold to stay nicely supported via 2026, with a mixture of central financial institution shopping for, investor diversification flows, and macroeconomic uncertainty limiting draw back dangers for the dear metallic.