Gold futures close the day at an all-time high, with market analysts suggesting the possibility of gold prices soaring to $5,000 per troy ounce.
“Given the sustained strength in ETF inflows and anticipated robust buying from central banks, we are confident in revising our price targets for gold,” remarked Ben Hoff from Societe Generale in a recent note.
The firm has adjusted its predictions, now projecting that gold could reach the $5,000 mark by the close of 2026. The front-month gold contract finished trading up 0.7% at $4,138.70 per troy ounce, marking its third consecutive positive close.
