Gold Prices Expected to Climb Over Next Year After Recent Dip
Gold has had a turbulent year in 2026, with prices slipping 3% due to expectations of prolonged high interest rates and the ongoing Iran war. Despite this decline, gold saw its biggest annual rise since 1979 in 2025, surging 64% and reaching a record high of $5,595 an ounce in January. On Tuesday, gold prices rebounded, supported by a pause in the US Treasury yield's rally and a weaker dollar, with spot gold rising 0.7% to $4,168.33 per ounce.
Delegates at the London Bullion Market Association's (LBMA) annual gathering in Sorrento, Italy, predicted that gold could hit $5,013 a troy ounce over the next 12 months, up from the current level of $4,170. A year ago, the same conference delegates had expected gold to be around $4,980 by now.
Investors are closely watching the minutes of the Federal Reserve's September meeting for fresh clues on its monetary policy outlook, which could further influence gold prices. The recent fluctuations highlight the volatility in the gold market amid shifting economic and geopolitical factors.