Goldman Sachs Ups 2026 Gold Price Forecast to $5,400/oz Amid Diversification

• Goldman Sachs increased its end-2026 gold price forecast by $500 to $5,400 per ounce.
• The revision is attributed to private-sector and emerging market central banks diversifying into gold.
• Spot gold reached $4,887.82 per ounce on Wednesday, having climbed over 11% in 2026 and 64% last year.
• Goldman Sachs anticipates Western ETF holdings to rise due to an expected 50 basis point Fed rate cut in 2026.
• Emerging market central banks are projected to continue buying gold, averaging 60 tonnes in 2026.

Why It Matters: Goldman Sachs significantly raised its 2026 gold price target, citing strong diversification demand.