Gold is approaching the psychological threshold of $5,000 per ounce. The price of the yellow metal has risen by 80% over the last 12 months and by more than 15% in just three weeks of 2026, a spectacular jump driven primarily by structural changes in financial and geopolitical markets.
The key driver of this growth, somewhat similar to SILVER, is the shift in demand from traditional investments to safe havens – both private institutional investors and central banks of major and emerging countries (China, India, Turkey, Poland) are massively diversifying their foreign exchange reserves, reducing their dependence on the dollar. Goldman Sachs raised its forecast for the end of 2026 from $4,900 to $5,400 per ounce, pointing to this change as the main driver of growth. At the same time, the weakening of the dollar in the face of trade conflicts and geopolitical tensions (Greenland, tariffs) is changing the profitability of investments in gold, especially since the metal does not generate interest and therefore prefers lower interest rates.
Demand from central banks remains at around 60 tons per month, providing a stable base of demand, while tensions in the Middle East, potential Fed rate cuts, and uncertainty over Trump’s global trade strategy create a sustained supply of positive factors for gold as macroeconomic insurance. Investors do not view this movement as a speculative bubble, but as a long-term hedge against systemic risk.
GOLD is currently trading at around $4,980 per ounce, while at its peak it reached almost $4,990. GOLD continues to follow an upward trend (50-, 100- and 200-day EMA). The returns are very fast, as shown by the RSI, which is above 82 points.
Source: xStation 5
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