Gold forecast for 2026 from major bank: Will the rise continue?

The upward movement in gold prices continues. Investors continue to follow every new development in the market with care.

US-based investment bank Goldman Sachs has made a new forecast regarding gold.

The bank raised its ounce gold forecast for December 2026 from 4,300 dollars to 4,900 dollars.

Analysts at the financial giant stated, “Risks to our raised gold price forecast remain to the upside. Strong demand for the small-volume gold market could push ETF inflows even higher than our estimates.”

Goldman Sachs explained the reason for this revision as strong Exchange Traded Fund (ETF) inflows from Western countries and robust gold purchases by central banks.

HOW MUCH COULD GRAM GOLD BE?

It is noted that if ounce gold reaches 4,900 dollars as forecasted by Goldman Sachs, gram gold could see the 7,000 TL level. According to calculations based on the current exchange rate, gram gold could rise to approximately 6,600 TL in this scenario. If the dollar exchange rate rises to 43 TL, it is projected that gram gold could climb to 6,774 TL, and if it rises to 44 TL, it could climb up to 6,932 TL.

WHY IS GOLD RISING?

Geopolitical risks, high inflation expectations, central bank interest rate policies, and increasing gold purchases are effective in the rise of gold prices. In addition, the following developments are among the factors supporting the market:

• The possibility of a government shutdown due to the budget crisis in the US and increasing layoffs

• The resignation of the French Prime Minister

• Political uncertainty created by the election results in Japan

AS TRUST IN THE DOLLAR DIMINISHES...

Speaking to SZC TV, Economist Onur Çanakçı pointed out that central banks are increasing their gold purchases. Stating that approximately 7% of China's reserves consist of gold, Çanakçı assessed, “With the decrease in trust in the dollar, investors are turning to gold as a safe haven.”