Goldman Sachs: Bullish on Gold, Predicts Price Will Hit $4900 by 2026

BlockBeats News, December 19th - In its latest 2025-2026 Commodities Outlook report, Goldman Sachs stated that 2026 will be the final year of global oil supply volatility. The market is expected to see an average daily oversupply of 2 million barrels, causing the price of Brent crude to drop to an average of $56 per barrel in 2026 and hit bottom in the middle of the year.

Furthermore, Goldman Sachs reiterated its forecast for a gold price increase to $4900 in 2026. It believes that global central bank gold purchases and Fed rate cuts will be dual drivers of the price increase. The analysis points out that geopolitical risks and economic uncertainties are prompting emerging market central banks to accelerate their gold holdings, while the potential entry of private investors may further drive up the price of gold. Goldman Sachs expects global central banks to maintain a monthly gold purchase volume of around 70 tons in 2026, and for every 1 basis point increase in the allocation of private investors, the gold price is expected to rise by approximately 1.4%.