Gold Soars Amid Global Economic Uncertainty
Precious metals have seen sharp swings in 2026 due to shifting interest rate expectations and geopolitical uncertainty.
Gold prices hit a record US$5,589.38 an ounce on January 28 before retreating sharply and slipping below US$4,000 in July.
However, it has since seen a revival, touching US$4,400 on August 12 after a weaker-than-expected US jobs report reduced expectations of a Federal Reserve rate hike in September.
Analysts expect gold prices to rise again, citing longer-term trends including a shift away from globalisation, de-dollarisation, growing government debt in Western economies, and persistent geopolitical risks.
Alexandra Symeonidi, senior corporate credit and sustainability analyst at William Blair, sees gold as having the strongest upside potential among precious metals due to sustained central bank buying and a recovery in investor demand.