Gold hits a new high! From $5,400 to $7,150, why are institutions collectively bullish?

【BlockBeats】Gold has hit a new high again. Recently, Goldman Sachs significantly raised its gold price forecast, pushing the 2026 year-end target from $4,900 directly to $5,400 per ounce. Their logic is clear: global private investors and central banks around the world have been buying heavily, and with limited gold supply, competition is naturally intensifying. Data shows that this year, central banks are expected to purchase around 60 tons of gold per month. Coupled with expectations of Federal Reserve rate cuts, gold ETF holdings are also expected to rise.

Now, the market’s optimistic sentiment is already reflected in prices—gold has broken through $4,800 per ounce, reaching a historic high. The London Bullion Market Association’s survey is even more direct, with most analysts predicting that gold prices could reach the $5,000 mark this year.

However, the most aggressive voices come from commodity strategists at ICBC Standard Bank, who believe that in extreme cases, gold prices could even surge to $7,150. Why are so many institutions turning bullish? The underlying logic is quite consistent: tense geopolitical situations, continued decline in real interest rates, and a global reassessment of the US dollar—all of which reinforce gold’s value as a final safe-haven asset. In times of increasing economic uncertainty, gold’s appeal is indeed rising.