Goldman Sachs Raises Year-End Gold Forecast to $5,400/Ounce Amid Growing Demand

Goldman Sachs has raised its year-end gold price forecast for December 2026 to $5,400 an ounce, citing growing diversification of private investors in gold bars alongside strong demand from central banks and exchange-traded funds. Analysts expect private investors to maintain their positions despite fading political risks, supporting the metal's rally. Risks to the forecast are skewed to the upside due to ongoing global political uncertainty.