Gold (GLD) prices crossed above the $4,800 level on Wednesday as investors looked for safety amid fresh tariff threats and fears of a global trade war. After a historic run in 2025, gold has entered 2026 with strong momentum, supported by geopolitical tensions, lower real interest rates, and a growing move away from the U.S. dollar. As a result, some forecasts are becoming especially aggressive, with ICBC Standard Bank strategist Julia Du saying that gold could climb as high as $7,150 if these trends remain in place.
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Moreover, overall market expectations are turning increasingly bullish. In fact, analysts surveyed by the London Bullion Market Association (LBMA) see gold rising above $5,000 this year, driven by Federal Reserve easing expectations, falling U.S. real rates, and ongoing central bank buying. Unsurprisingly, the LBMA described gold as the standout asset following its record-breaking performance last year, which helps reinforce the view that current conditions remain highly supportive.
In addition, Goldman Sachs (GS) has called gold its highest-conviction trade, driven by a shift in demand from central banks to private investors such as wealth managers, hedge funds, and pension funds. Importantly, analysts argue that this rally does not look like a speculative bubble but rather part of a longer-term trend that has been marked by ongoing geopolitical tensions and countries’ increasing focus on securing critical resources.
Is Gold a Good Buy?
Using TipRanks’ technical analysis tool, the indicators seem to point to a positive outlook for gold. Indeed, the summary section pictured below shows that 14 indicators are Bullish, compared to two Neutral and six Bearish indicators.
