Goldman Sachs Turns More Bullish on Gold, Lifting 2026 Target by 10% | US Crypto News

Goldman Sachs has increased its year-end 2026 price forecast for gold by 10%, raising the target from $4,900 to $5,400 per ounce, just weeks into the year, as spot gold trades near its all-time high. The primary catalyst for this upward revision is the accelerating competition for physical bullion between central banks and private sector investors, marking a shift from previous periods dominated by official-sector buying alone. Goldman Sachs now expects central banks, particularly those in emerging markets diversifying reserves, to purchase an average of 60 metric tons of gold monthly in 2026. Private demand, driven by inflows into gold-backed ETFs, high-net-worth family buying, and demand for call options, is also contributing to the hardened structural bull case for gold. The bank argues that high prices will not curb demand because new mine supply is minimal, and demand will only weaken if geopolitical tensions ease, reserve diversification slows, or the Federal Reserve tightens policy—none of which appear imminent.

(Source：BeInCrypto)