Gold has reached unprecedented heights recently, breaking past $4,000 an ounce and hitting a new record high of around $4,179.48 on October 14, 2025. Analysts attribute this surge to a combination of factors including expectations of U.S. Federal Reserve interest rate cuts, geopolitical tensions between the U.S. and China, and increased safe-haven demand amid political and economic uncertainties. Looking ahead, major financial institutions forecast further gains for gold. Goldman Sachs projects that gold could reach up to $4,900 per ounce by the end of 2026, while Bank of America is even more bullish, predicting a potential rise to $5,000 per ounce in the same timeframe. These forecasts are supported by ongoing central bank purchases, limited new gold supply, and persistent geopolitical risks. However, some experts caution about possible short-term corrections of 10-15%, which could temporarily lower prices to the $3,500–$3,600 range before the upward trend resumes.

In summary, gold is expected to climb higher in the near to mid-term, potentially reaching the $4,900-$5,000 range by the end of 2026, driven by a complex interplay of economic policies, geopolitical tensions, and investor demand for safe assets.