Gold prices have surged 51 percent this year, driven by robust central bank purchases, higher inflows into gold-backed ETFs and a softer U.S. dollar
Goldman Sachs recently raised its gold forecasts for December 2026 to $4,900 per ounce from $4,300 due to key factors, including strong Western exchange-traded fund (ETF) inflows and an expected increase in central bank buying.
As of 7:01 GMT on Tuesday, spot gold was trading flat at $3,951.92 per ounce, after hitting a fresh high of $3,977.19 earlier in the day.
Gold prices have surged 51 percent this year, driven by robust central bank purchases, higher inflows into gold-backed ETFs, a softer U.S. dollar and rising interest from retail investors looking to hedge against trade and geopolitical risks.
Central bank buying to average 80 metric tons in 2025