Gold Surges Past $4,900 as Goldman Sachs Raises Year-End Forecast
Gold prices jumped past $4,900 per ounce on Thursday. The price hit a new mark and set records over recent weeks. This rise shows a change in the metals market. Private buyers now choose gold as part of their plans.
Goldman Sachs shared a report led by Daan Struyven. Their note raised the December 2026 forecast from $4,900 to $5,400 per ounce. The report finds that private investors now add gold to their portfolios. They buy gold as protection amid economic risk.
Banks once drove gold prices in 2023 and 2024. Since 2025, the fight over gold has shifted. Both financial institutions and private buyers now seek gold bullion through ETF trades. Federal Reserve rate cuts added fuel to this contest.
Market watchers say that some see a risk in fiat money. They point to policies such as high money printing and low rates. This view makes gold a guard against inflation and weaker currency.
COMEX futures for gold reached about $4,948 per ounce in early Thursday trades. This movement shows that many trust gold as a store of value. It stands firm amid shifting economic and global events.
In short, recent price moves and the revised Goldman Sachs forecast signal a change in investment tastes. Private-sector interest in gold now grows as investors shift their focus to safe assets.
