&imwidth=800&imheight=600&format=webp&quality=medium "When will gold cross $4000 mark? Goldman Sachs issues massive prediction")
Goldman Sachs has said in a report that gold will continue to rally till December of the next calendaryear. The American outfit said that factors like strong private and institutional demand, rising equity traded fund (ETF) holdings, and central bank purchases, which have driven gold's upsurge of 47 per cent this year, will likely help the precious metal carry the momentum till the end of the next calendar year.
Gold was trading at USD 3,937 per ounce on the international market. In India, the yellow metal was trading at approximately Rs 1.21 lakh per 10 grams.
The report from Goldman Sachs' Commodities Research said that gold has rallied 14 per cent since August.
The investment bank said that the gold price can rise to USD 4000 per ounce by mid-2026. It can furtherrise to USD 4,300 by December 2026.
"The upside risks to our USD 4,000/toz mid-2026 and USD 4,300/toz December 2026 gold price forecast have intensified," noted the report.
It further said that speculative positioning explains only a modest part of the latest rally, rather it suggests a larger underlying shift in investor behaviour.
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The investment bank said in the report that investors should view gold as a key portfolio stabilizer, not just a hedge amid global financial uncertainty.
Goldman Sachs reaffirmed gold as its top long-term commodity recommendation. The bank said that this is because the precious metal has shownprice upside driven by structurally higher central bank demand, potential for further private sector diversification, and strong hedging properties during downside risk scenarios.