Goldman Sachs Ups 2026 Gold Target to $5,400, Citing Strong Diversification

• Goldman Sachs increased its end-2026 gold price forecast by 10% to $5,400 per ounce, from $4,900.
• The upgrade is driven by continued diversification into gold by private-sector investors and emerging market central banks.
• Strong buying interest has already elevated gold's starting price for 2026, with diversification flows expected to persist.
• Goldman anticipates central banks will purchase an average of 60 tonnes of gold in 2026.
• Potential US Federal Reserve rate cuts in 2026 could further support gold prices by boosting Western ETF holdings.

Why It Matters: Goldman Sachs raised its 2026 gold price target to $5,400 due to sustained diversification and central bank buying.