---
title: "Goldman now forecasts that gold will reach $4,900 per ounce by December 2026."
publisher: "Share Talk"
author: "sharetalk"
published: "2025-10-07T09:27:07+00:00"
modified: "2025-10-07T09:27:07+00:00"
date: 2025-10-07
canonical: "https://www.share-talk.com/goldman-now-forecasts-that-gold-will-reach-4900-per-ounce-by-december-2026/"
category: "Blogs"
categories: ["Blogs", "Mining"]
tags: ["COMEX", "EU", "futures", "Gold", "Gold Bars", "Laos", "Market", "MYANMAR", "Swiss", "Switzerland", "Syria", "UK", "United States"]
image: "https://i0.wp.com/www.share-talk.com/wp-content/uploads/2025/03/gold-14th-march.webp?fit=1200%2C800&quality=80&ssl=1"
format: "news"
language: "en-GB"
---

# Goldman now forecasts that gold will reach $4,900 per ounce by December 2026.

**Published:** October 7, 2025
**Author:** sharetalk
**Categories:** Blogs, Mining
**Tags:** COMEX, EU, futures, Gold, Gold Bars, Laos, Market, MYANMAR, Swiss, Switzerland, Syria, UK, United States
**Featured image:** ![](https://i0.wp.com/www.share-talk.com/wp-content/uploads/2025/03/gold-14th-march.webp?fit=1200%2C800&quality=80&ssl=1)

---

**Goldman Sachs** has raised its forecast for gold prices at the end of next year, citing strong and sustained demand from both central banks and investors amid a recent surge in bullion prices.

The bank now predicts that **gold will reach $4,900 per ounce by December 2026**, up from its previous estimate of **$4,300 per ounce**.

Goldman analysts said the continued inflow of funds into gold — from central banks increasing their reserves and from investors buying gold-backed exchange-traded funds (ETFs) — is “sticky,” suggesting prices could remain elevated for longer than previously expected.

Gold is currently trading at **$3,947 per ounce**, after touching a **record high of $3,977** overnight.

In a new analyst note, **Lina Thomas** and **Daan Struyven** outlined the key factors behind their revised forecast:

-
**Central bank buying** is expected to average **80 tonnes in 2025** and **70 tonnes in 2026**, as emerging market central banks continue diversifying their reserves into gold — contributing **19 percentage points** of the expected **23% price increase** by December 2026.

-
**Western ETF holdings** are projected to rise as the **Federal Reserve cuts interest rates by 100 basis points in mid-2026**, adding a further **5 percentage points** to price gains.

-
**Speculative positioning** in gold futures markets is also expected to gradually normalise, supporting continued strength in prices.

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