Gold just made history again.After briefly cooling off, gold prices are surging once more — breaking past $4,149/oz, an all-time high. Analysts say this rally is just getting started — some even predict gold could hit $5,000 by 2026.
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So, what’s driving this explosion?
A perfect storm is unfolding. Tensions between the U.S. and China are back in the spotlight after Trump’s threats of 100% tariffs and tech export controls — reigniting fears of a full-blown trade war. At the same time, the U.S. government shutdown shows no sign of resolution, fueling political instability. Meanwhile, bets on Fed rate cuts are hitting 100% probability by December, further weakening the dollar and pushing capital toward safe-haven assets like gold.
Technically, gold is still in bullish territory. FXStreet’s Valeria Bednarik notes the metal remains above all major moving averages, with RSI nearing overbought but momentum still pointing upward. Phillip Streible from Blue Line Futures says we could see $5,000 gold by the end of 2026, and major institutions like UBS and Goldman Sachs are raising their long-term targets as well. Goldman Sachs expects gold to climb as high as $4,900 per ounce, while UBS maintains a more conservative short-term target of $4,200.
But the fundamental picture might be even more bullish. Central banks are buying at record levels — China has increased reserves for 11 straight months, and global central banks now hold more gold than U.S. Treasuries for the first time. Ray Dalio calls for a 15% portfolio allocation to gold. Gundlach goes even further: 25%. $SPDR Gold Shares(GLD)$ $VanEck Gold Miners ETF(GDX)$ $Direxion Daily Gold Miners Index Bull 2X Shares(NUGT)$ $Direxion Daily Gold Miners Index Bear 2X Shares(DUST)$ $iShares Gold Trust(IAU)$
👉So here’s the question for you:
Do you think gold will keep rising? Or is it due for a pullback?
Are you already in this rally? Or still waiting on the sidelines?
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