Gold prices are experiencing a significant rally, driven by global economic uncertainty, geopolitical tensions, and increased demand for safe-haven assets. Analysts predict this upward trend will continue despite potential short-term corrections.

• On Wednesday morning, London spot gold broke above $4,170 per ounce, while COMEX gold futures traded above $4,190 per ounce, both up by about 59 percent since the beginning of the year.
• Central banks purchased 415 metric tons of gold in the first half of 2025, and China’s official gold reserves reached 74.06 million ounces by the end of September.
• Bank of America raised its 2026 gold price forecast to $5,000 per ounce, with an average of $4,400, citing factors like unresolved fiscal deficits and declining confidence in the US dollar.