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1h ago

Gold Nears $4,000 as Rally Sets New Records and Goldman Lifts Target

Safe-haven flows tied to the U.S. shutdown are propelling bullion to fresh highs.

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Gold bullion is displayed at Hatton Garden Metals precious metal dealers in London, Britain July 21, 2015. REUTERS/Neil Hall
Gold is really roaring.
The price of bullion is on track to hit $10,000 by the end of the decade, according to Yardeni Research president Ed Yardeni

Overview

  • Spot gold traded near $3,960 after touching a new peak of $3,977 early Tuesday, leaving the $4,000 mark within reach.
  • Indian benchmarks set fresh records, with Delhi spot reported up to about ₹1,30,300 per 10g and MCX futures topping ₹1,20,900 per 10g, while silver hit new highs locally and hovered near $48–49/oz globally.
  • Goldman Sachs raised its December 2026 forecast to $4,900 per ounce, citing strong ETF inflows and persistent central bank buying, as State Street’s Aakash Doshi assigned a 75% chance of $4,000-plus by 4Q or early 2026.
  • The surge is underpinned by expectations of further Federal Reserve rate cuts, a softer dollar, delayed U.S. data during the shutdown, and robust inflows into physically backed gold ETFs alongside ongoing central bank accumulation.
  • Several analysts caution that the rally looks stretched near $4,000, with warnings of a near-term pullback even as longer-term projections remain broadly constructive.