Goldman Sachs says its forecast of $4,900 gold by the end of 2026 still faces upside risks

Goldman Sachs still maintains its previous forecast that the price of gold will reach $4,900 per ounce by the end of 2026, noting that there remains an overall net upside risk; however, the price movement of gold is also expected to experience more pronounced two-way volatility going forward. As a long-standing core safe-haven asset in the market, the price trend of gold has always been jointly influenced by multiple factors such as global monetary policy direction, changes in geopolitical situations, inflation fluctuations, and the strength of the US Dollar Index. This projection by Goldman Sachs is also based on the current uncertainty of global economic recovery and the continued accumulation of gold reserves by central banks in various countries. Greater two-way volatility also means that subsequent asset allocation in gold will require more attention to risk hedging and a cautious approach to short-term market fluctuations.