A survey of Goldman Sachs investors sees many expecting gold to top $5k in 2026

This year gold has leaked and now A Goldman Sachs The survey shows that many investors think the precious metal will hit a new all-time high of $5,000 by the end of 2026.

Gold prices are up 58.6% year-to-date and broke the historic $4,000 level for the first time on October 8.

In a survey of more than 900 institutional investor clients on Goldman Sachs’ marquee platform, 36% of respondents – the largest group – expect gold to maintain its momentum and exceed $5,000 per troy ounce by the end of next year.

Another 33% expect the commodity to reach between $4,500 and $5,000, according to a survey conducted between November 12-14.

More than 70% of institutional investors see gold rising next year, according to Goldman Sachs. Conversely, just over 5% of those polled see prices pulling back between $3,500 and $4,000 over the next 12 months.

Gold prices Advanced to two weeks Friday’s high, boosted by hopes of a Federal Reserve rate cut, co Spot Prices rose 0.45% to $4,175.50. Gold futures was trading at $4,187.40, up 0.53%.

In the survey, 38% of respondents highlighted the central bank’s purchase of gold as the main driver of its price hike, while 27% said it was fiscal concerns.

A broad sweep of investors, from retail buyers to hedge funds, has turned to commodities — traditionally seen as safe-havens in times of turmoil — this year as hedges against inflation risks, geopolitical turmoil and a falling dollar.

Global central banks have pointed to gold’s high liquidity, lack of default risk and broadly neutral status as a reserve asset.

Phil Streble, chief market strategist at Blue Line Futures, said gold’s bull run is likely to continue into 2026.

“The global economic outlook is supportive of gold,” Streble told CNBC’s “Power Lunch” on Nov. 20, with many countries facing slowing growth and rising inflation.

Other investors are tapping the mining sector as a call on the commodity.

Blue Whale Capital’s Stephen Yu told CNBC’s “Europe Early Edition” earlier this month that he is betting. NewmontThe world’s largest gold miner.

Carson Block, founder of Muddy Waters Capital – known for his short sales – unveiled A rare long call In Canadian junior miners Snowline Gold At this year’s Sohn London Investment Conference. Block said he saw the company as an attractive takeover candidate in a sector where consolidation is increasing.