"Financial experts have found themselves split on their predictions. Goldman Sachs has taken a bullish approach, raising its estimated gold forecast from $4,300 to $4,900 per ounce for December 2026. "We see the risks to our upgraded gold price forecast as still skewed to the upside on net, because private sector diversification into the relatively small gold market may boost ETF holdings above our rates-implied estimate," Goldman stated during the Monday announcement, according to Reuters."
"As a so-called safe-haven asset, gold has benefited from a few things this year, including a weakened dollar and an unpredictable economy. The latter has been especially true since the U.S. government shutdown on October 1. That Wednesday morning saw gold reach new all-time highs, with spot gold and U.S. gold futures reaching $3,894 and $3,922, respectively. Gold has continued to trend upward over the last week, reaching a high of $4,050 today."
Gold rose above $4,000 per ounce and is up more than 53% year-to-date, far outpacing major U.S. stock indexes. Weakness in the U.S. dollar and economic uncertainty, intensified by the U.S. government shutdown beginning October 1, have driven safe-haven demand. Spot and U.S. futures hit intraday levels near $3,894 and $3,922, with prices subsequently reaching about $4,050. Market opinion is divided: Goldman Sachs raised its December 2026 forecast to $4,900 per ounce citing private-sector diversification and potential ETF inflows, while Bank of America warned of an elevated risk of correction driven by momentum buying and overbought signals.
Read at Fast Company
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