Gold edged closer to $4,000 an ounce, extending a rally fueled by the US government shutdown and the political crisis in France.Traders are still pricing in a quarter-point cut this month, which should benefit gold as it doesn't pay interest. However, Citadel's Ken Griffin said investors are starting to view gold as a safer asset than the dollar, a development that's "really concerning" to him.
Gold bulls charged to historic highs again, closing in on the $4,000 milestone. As euphoria builds, seasoned traders are on the watch for any early signs of weakening.
Goldman Sachs has increased its gold price forecast for December 2026 to $4,900 per troy ounce, up from $4,300, citing persistent inflows that have driven a 17% rally since late August. The gold rally continued amid political uncertainty on Tuesday, adding 0.7% to reach about $4,003 per ounce.
Ernest Hoffman is a Crypto and Market Reporter for Kitco News. He has over 15 years of experience as a writer, editor, broadcaster and producer for media, educational and cultural organizations.
Gold soared to a fresh record, putting an exclamation point on the headlong investor rush into alternative assets amid concerns about the value of the U.S. dollar.
Jim Wyckoff has spent over 25 years involved with the stock, financial and commodity markets. He was a financial journalist with the FWN newswire service for many years, including stints as a reporter on the rough-and-tumble commodity futures trading floors in Chicago and New York.
Jim Wyckoff has spent over 25 years involved with the stock, financial and commodity markets. He was a financial journalist with the FWN newswire service for many years, including stints as a reporter on the rough-and-tumble commodity futures trading floors in Chicago and New York.
Gold may be getting comfortable at the top table. After a summer surge that caught many off guard, Goldman Sachs now expects the metal to fetch $4,900 an ounce by the end of 2026, up from its previous $4,300 forecast.
Goldman Sachs is now forecasting gold to reach nearly $5,000 next year, but one billionaire investor says the precious metal's rally is a sign of trouble for U.S. assets.
Precious metals stay strong amid Fed rate-cut bets and global uncertainty, with gold targeting $4,010 and silver eyeing a breakout above $50.
Gold's rally has the “weight of global uncertainty behind it,” says one asset manager.
Neils Christensen has a diploma in journalism from Lethbridge College and has more than a decade of reporting experience working for news organizations throughout Canada. His experiences include covering territorial and federal politics in Nunavut, Canada.