Goldman Sachs raises its gold price forecast for December 2026 to $4,900 per ounce.

According to Mars Finance, on October 7, Goldman Sachs raised its gold price forecast for December 2026 from $4,300 per ounce to $4,900 per ounce. The reasons for the increase include strong inflows of Western ETF funds and the expectation that central banks around the world will continue to increase their gold holdings. Goldman Sachs stated: "We believe that, with the revised gold price forecast, the overall risk still leans towards the upside. This is because if the private sector diversifies assets into the relatively small gold market, it may push ETF open interest above the levels we estimated based on interest rate models." (Jin10)