XAU Breaks $5,000 as Banks See Higher Prices

Gold has surged through the critical $5,000 per ounce level, marking a historic milestone for the precious metal as institutional forecasts turn increasingly bullish and macroeconomic uncertainty drives demand for safe-haven assets.

The breakout above prior record highs signals a structural repricing of gold rather than a speculative spike, with analysts pointing to central bank accumulation, long-term inflation hedging, and weakening confidence in fiat currencies as key drivers behind the rally.

Goldman Sachs Raises 2026 Gold Target to $5,400

Goldman Sachs has reinforced the bullish outlook by raising its 2026 gold price forecast to $5,400 per ounce, citing sustained demand from both private investors and central banks. The investment bank emphasized that recent buyers are unlikely to exit positions quickly, creating a higher price floor for gold over the medium term.

According to Goldman’s commodities research team, central bank purchases, particularly from emerging markets remain a powerful structural force, while global investors increasingly view gold as a strategic hedge against geopolitical risk, fiscal imbalances, and long-term currency debasement. The bank also noted that anticipated rate cuts in coming years could further support gold by reducing real yields.

David Roche: Gold Could Reach $6,000 on Central Bank Shift

Veteran strategist David Roche, President of Quantum Strategy, has offered one of the more assertive institutional forecasts, suggesting gold prices could climb toward $6,000 per ounce if central banks continue reallocating reserves away from traditional currencies and into bullion.

Roche argues that rising geopolitical fragmentation and declining trust in global monetary coordination are pushing policymakers toward tangible reserve assets. He has highlighted the growing preference for gold as a neutral store of value in a multipolar world, particularly among countries seeking to reduce exposure to the U.S. dollar. In this framework, gold is not merely a hedge, but a strategic monetary asset undergoing re-monetization.

Wall Street: Institutional Support for Higher Gold Prices

Across Wall Street, sentiment remains firmly constructive. Several major financial institutions now project gold prices well above historical norms over the next two years, reflecting a shift in long-term assumptions rather than short-term volatility.

UBS aligns closely with Goldman Sachs, projecting gold prices around $5,400 per ounce, while Yardeni Research has outlined a bullish scenario targeting $6,000 amid persistent fiscal deficits and rising sovereign debt levels. Jefferies has published one of the most optimistic mainstream outlooks, suggesting gold could reach $6,600 per ounce if inflation risks and geopolitical instability remain elevated.

Collectively, these forecasts indicate a growing consensus that gold’s role in global portfolios is expanding, driven by both defensive positioning and long-term strategic allocation.

Robert Kiyosaki’s Long-Term Bull Case

Outside traditional Wall Street analysis, investor and author Robert Kiyosaki continues to promote an aggressively bullish stance on gold. In recent posts on X, Kiyosaki has reiterated his belief that fiat currencies are entering a period of accelerated debasement, prompting investors to seek refuge in hard assets.

Kiyosaki has publicly stated a long-term gold target as high as $27,000 per ounce, framing the metal as insurance against systemic financial risk rather than a conventional trade. While his projections fall well beyond institutional estimates, they reflect broader retail and alternative-investment sentiment supporting gold’s multi-year uptrend.