Goldman Sachs: Gold Prices Could Reach Record Levels by 2026

Fluctuations in Gold Prices and Long-Term Expectations

Gold reached its highest level in history at $4,336 on October 30, but has since experienced a decline of about 6%, falling to around $4,000 per ounce. However, leading US investment bank Goldman Sachs is forecasting promising scenarios for the future while assessing the long-term effects of this decline on gold prices.

Record Expectations for 2026

Goldman Sachs economists expect gold prices to reach $4,900 by the end of 2026. According to the bank's analysis, the current price fluctuations are a temporary situation. The economists emphasize that this decline in gold prices does not mark the beginning of a long-term downward trend.

Central Banks and Gold Demand

Goldman Sachs also points to an increase in gold purchases by central banks. The bank anticipates that central banks will continue to make strong gold purchases throughout the coming year, predicting an average of 80 tons of gold will be bought monthly from the end of 2025 to 2026. This trend is emerging as a result of the tendency to diversify reserves against geopolitical and financial risks.

The Role of Individual Investors

Experts indicate that another factor supporting the rise in gold prices is the increasing interest and demand from individual investors. If individual investors continue to add more gold to their portfolios, there is a possibility that gold prices could reach levels higher than $4,900.

Alternative Views and Other Predictions

Goldman Sachs is not the only bank with an optimistic outlook. Last week, UBS strategists also predicted that gold could reach $5,000 in 2026 or 2027. This indicates increasing confidence in gold in the markets and evidence of long-term growth expectations.