Goldman Sachs predicts gold at $5,400 an ounce in 2026
Business
Goldman Sachs is betting big on gold, predicting the price will jump to $5,400 an ounce by 2026.
Right now, gold sits at $4,572 per ounce after a small bump up, but it's coming off its sharpest monthly drop since 2008, thanks to inflation worries, shifting US interest rates, and global tensions like the Iran conflict.
Goldman Sachs cites central bank buying
Goldman points to central banks buying up gold and countries looking to diversify their reserves as major reasons for this bullish outlook.
Ongoing geopolitical issues (think Iran) and rising oil prices are making investors see gold as a safe bet.
Even with a strong US dollar making gold more expensive worldwide, Goldman stays optimistic about long-term growth, especially if interest rates start coming down again.