Gold Forecast to Reach $4,900 an Ounce as Central Bank Buying Holds

VANCOUVER, BC, Sept. 3, 2026 /PRNewswire/ -- American News Group News Commentary - Gold has spent 2026 doing things it has never done before. It crossed US$5,000 an ounce for the first time in January and touched an intraday record above US$5,500 before retreating below US$4,000 by late June, and it has since rallied again. Goldman Sachs Research now forecasts the metal will reach US$4,900 per troy ounce by the end of 2026, against roughly US$4,600 on August 25, after a 15% climb from its mid-July low. The driver its analysts point to is not speculative positioning but central banks steadily diversifying reserves away from foreign currencies, which they describe as a multi-year trend rather than a trade.