Gold lost ground this week, trading near $4,268 per ounce after U.S. economic figures—rising new home sales and jobless claims dropping below 200,000—strengthened expectations of a more hawkish Federal Reserve. This was compounded by the 10-year Treasury yield reaching 5.15%, putting further pressure on the precious metal.
Despite the short-term pullback, consensus across several investment firms remains bullish. Goldman Sachs projects gold to reach $4,900 per ounce in 2026, driven by sustained sovereign demand—noting that China could be purchasing nearly 75% more gold than officially reported. TD Securities goes further, forecasting the next leg of the rally to top $5,000, while Fidelity strategist Jurrien Timmer sees gold's fair value near that milestone.
A hedge fund posting 235% returns this year agrees: the current dip is temporary rather than a trend reversal—short-term volatility does not alter the underlying structural bull thesis held by a large segment of the institutional market.