Goldman Sachs Raises Gold Price Forecast Amid Increased Demand

Goldman Sachs has significantly increased its gold price forecast, setting a target of $5,400 per ounce by the end of 2026, up from the previous $4,900. According to BlockBeats, the investment bank attributes this adjustment to ongoing purchases by private investors and central banks, which are intensifying competition for the limited supply of gold. It is anticipated that central banks will purchase approximately 60 tons of gold monthly this year, and gold ETF holdings are expected to rise as the Federal Reserve lowers interest rates. Amid a shift towards optimism among various institutions, gold prices have surpassed $4,800 per ounce, reaching a historic high. A survey by the London Bullion Market Association (LBMA) indicates that most analysts predict gold prices will exceed $5,000 this year. A more aggressive forecast comes from ICBC Standard Bank, whose commodity strategist suggests that gold prices could soar to $7,150 in extreme scenarios. Institutions generally agree that geopolitical tensions, declining real interest rates, and the trend of 'de-dollarization' are reinforcing gold's status as the ultimate global safe-haven asset.