Goldman Sachs survey indicates that gold could surpass $5,000 per ounce in 2026

Source: CritpoTendencia Original Title: Goldman Sachs survey indicates gold could surpass $5,000 per ounce in 2026 Original Link: A recent institutional survey by Goldman Sachs has raised expectations for the gold market for the coming year. According to the survey, a significant portion of large investors consider it possible that the price of gold could set a new all-time high above $5,000 per ounce by the end of 2026.

This optimism is supported by structural trends, safe-haven demand, and the strategic positioning of central banks.

Key factors behind gold’s bullish momentum

Gold has shown remarkable appreciation during 2025, with gains exceeding 60% annually, breaking through technical barriers and reaching levels not seen in decades. The main drivers of this rally have been ongoing central bank purchases, as they seek protection against fiscal risks in advanced economies and a possible prolonged depreciation of the US dollar.

The environment of low or negative interest rates, combined with global inflationary pressures, has increased gold’s appeal as a store of value and a hedge against systemic risks. Additionally, the rise in physical demand and the growth of flows into exchange-traded funds backed by the metal have reinforced the narrative of an extended bull cycle.

The Goldman Sachs survey indicates that institutional appetite for gold remains strong, with numerous managers adjusting their tactical exposure in response to the macroeconomic context.

Investor projections and market dynamics

The survey, conducted with over 900 institutional clients, shows that 36% of participants expect gold to surpass $5,000 per ounce by the end of 2026.

Another significant group anticipates the price will remain in a range between $4,500 and $5,000, while a minority expects a correction toward levels near $4,000, depending on changes in US monetary policy or capital flows to other assets.

The US bank highlights that, even in conservative scenarios, the structural support for gold remains solid. The combination of official purchases, institutional capital inflows, and geopolitical tensions provides a favorable framework for elevated prices in the medium term.

Risks and considerations for the global financial sector

Despite the survey’s optimism, Goldman Sachs analysts warn that gold’s trajectory will depend on factors such as the evolution of interest rates, the performance of the dollar, and macroeconomic stability in the United States and the eurozone. Unexpected monetary tightening or a marked appreciation of the dollar could limit the anticipated rise.

For institutional investors and diversified portfolio managers, gold is consolidating its role as a strategic component in risk management and as a hedge against extreme events.

Nevertheless, market volatility and possible changes in global asset allocation require close monitoring of monetary and macroeconomic signals, as well as careful assessment of the appropriate level of exposure within each strategy.