The price of gold surged to a record level
The American international investment bank Goldman Sachs has raised its gold price forecast for December 2026 from $4,300 to $4,900 per ounce. This is reported by Reuters. Bank analysts explained that the price increase is supported by active purchases from central banks and investment flows into Western exchange-traded funds (ETFs).
"We see that the risks to our updated gold price forecast are still skewed to the upside because private sector diversification on the relatively small gold market could push ETF holdings above our estimate, which is based on rates," — Goldman Sachs noted.
As of the morning of October 7, the spot price of gold reached a record high of $3,977.19 per ounce, after which it slightly decreased to around $3,960.
Since the beginning of the year, gold has increased by 51%. Key reasons include active purchases by central banks, increased demand for gold ETFs, a weaker dollar, and retail investors seeking protection from trade and geopolitical risks.
Goldman Sachs expects that central banks will, on average, purchase 80 tons of gold in 2025 and 70 tons in 2026, continuing to diversify reserves in favor of gold.
Analysts also forecast an increase in ETF demand in Western countries, as the US Federal Reserve is expected to cut its key rate by one percentage point by mid-2026.
