The “Al Arabiya” website wrote: Gold continues its record-breaking run this year, with increasing expectations that it will reach unprecedented levels. A recent survey conducted by “Goldman Sachs” that included more than 900 institutional investors revealed that the vast majority of them expect the price of the yellow metal to reach $5,000 per ounce by the end of 2026.
Gold’s rise has not been typical, as prices have risen by 58.6% since the beginning of the year, exceeding the $4,000 barrier for the first time in its history on October 8.
According to the survey, which was conducted between November 12 and 14, 36% of investors expect this momentum to continue, with gold reaching more than $5,000 during the coming year, while another 33% believe that prices will range between $4,500 and $5,000. The pessimists were few, as their percentage did not exceed 5% of those who expected prices to fall to between $3,500 and $4,000, according to “CNBC.”
Hopes for interest rate cuts by the Federal Reserve last Friday boosted the upward trend, with the spot price of gold rising by 0.45% to $4,175.50, while futures rose by 0.53% to $4,187.40.
The survey showed that 38% of investors attribute this rise to central bank purchases, while 27% pointed to financial concerns. It seems that everyone, from individual investors to hedge funds, has turned to gold this year as a safe haven in the face of inflation, geopolitical tensions, and the decline of the dollar.
For their part, global central banks have stepped up their purchases, driven by the high liquidity of gold, the absence of default risk, and its neutrality as a reserve asset.
Bets on the Future: Phil Streible, chief market strategist at “Blue Line Futures,” said that the upward trend will continue until 2026, adding that the global economic slowdown and increasing inflationary pressures support the precious metal.
Investors are not limited to buying gold itself, but are also turning to shares of mining companies.
Stephen Yiu of “Blue Whale Capital” revealed his bet on “Newmont” – the world’s largest gold producer – while Carson Block, founder of “Muddy Waters Capital”, surprised the markets by announcing a long-term investment in the Canadian mining company “Snowline Gold”, considering it a possible target for acquisition amid an escalating wave of mergers in the sector.
