Wall Street expects gold prices to surge, with forecasts suggesting the precious metal could reach $4,000 an ounce next year, as investors seek shelter from the fallout of Donald Trump’s trade war.
Analysts at Goldman Sachs project that gold will climb to $3,700 by the end of this year, continuing its upward momentum into mid-2026. The bank estimates a 45% probability that the U.S. will enter a recession, which would further boost demand for the safe-haven asset.
UBS also weighed in, predicting gold will hit $3,500 an ounce by December.
Gold, widely regarded as a refuge during times of economic instability, reached a new record overnight, surpassing $3,245 an ounce after rising 6.6% last week.
“Recent flows have surprised to the upside, likely reflecting renewed investor demand in hedging against recession risk and declines in risk asset prices,” said Goldman Sachs analyst Lina Thomas.
