Goldman Sachs Sees $4,900 Gold Price by 2026

Goldman Sachs believes the bull market for gold is far from over. In fact, according to Anthony Kim, Goldman Sachs' global head of metals trading, gold's recent pullback looks more like a pause than the end of its long-term rally.

The firm expects central-bank purchases to average roughly 50 tonnes per month in 2026, nearly three times the monthly average recorded before 2022. Concerns about debt, currency stability and geopolitical risk are also keeping gold in the spotlight.

Barrick Mining (NYSE: B) (TSX: ABX), Kinross Gold (NYSE: KGC) (TSX: K), Alamos Gold (NYSE: AGI) (TSX: AGI), Newmont Corporation (NYSE: NEM), and Blue Jay Gold (TSXV: JAY) (OTCQB: JAYGF) are among the companies that could benefit from this trend.

Blue Jay Gold recently announced the first assay results from its maiden 2026 diamond drill program at the Steller Gold Project in the Yukon Territory. The company's CEO, Geordie Mark, said 'SC26-003 is the kind of result we underwrote when we bought this project.' He added that the continuity of mineralization and its host structure across multiple intercepts provides room for further expansion.

The system at Steller displays an intermediate sulfidation epithermal style comparable to giant districts such as Fresnillo, Zacatecas and Pachuca in Mexico. Intercepts extending from surface to over 500 m down dip demonstrate the continuity and scale potential of the Skukum Creek system.