Goldman Sachs Predicts Further Rise in Gold Prices

Gold prices have surged nearly 30% in the last year, according to data from TradingView. However, despite this significant increase, Goldman Sachs has recently raised its target for the precious metal.

The firm expects gold to rise to $4,900 per troy ounce by the end of 2026, an increase of about 3.65% from current levels. This is attributed to growing demand from central banks as they continue to diversify their reserves, and markets scaling back expectations for U.S. rate hikes in 2026.

Goldman Sachs also noted that the demand for gold call options is rising as investors turn to the precious metal instrument to hedge their portfolios against large-scale changes in government policies.