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Goldman Sachs Boosts Gold Forecast to $5,400 per Ounce

1/23/2026

23 4 Full Breakdown

Summary

Story summary

Goldman Sachs Group, Inc. (the investment bank) raised its end-2026 gold price forecast to $5,400 per ounce from $4,900.
Analysts cite growing private-sector demand and central bank purchases, and private investors are expected to maintain holdings as a hedge.
Gold has surged over 11% in 2026 and about 70% over the past year.
Central bank purchases are expected to average 60 tonnes monthly in 2026.

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Story summary

Goldman Sachs Group, Inc. (the investment bank) raised its end-2026 gold price forecast to $5,400 per ounce from $4,900.
Analysts cite growing private-sector demand and central bank purchases, and private investors are expected to maintain holdings as a hedge.
Gold has surged over 11% in 2026 and about 70% over the past year.
Central bank purchases are expected to average 60 tonnes monthly in 2026.