Goldman Sachs raises the end-2026 gold price forecast to $5,400 per ounce, driven by increased central bank gold purchases and limited supply boosting demand. Gold has broken through $4,800 per ounce, with analysts generally predicting the price will reach $5,000, and in extreme cases, could hit $7,150. This reflects heightened geopolitical tensions and declining real interest rates, which enhance gold's appeal as a safe-haven asset.