Gold prices are on a remarkable run, and analysts believe the rally is far from over. Many are now predicting that the precious metal could reach $6,000 per ounce this year—and, if current trends hold, may even be headed toward the $10,000 mark in the years ahead.
As of Saturday, gold closed at $5,106.68 per ounce, up 2.57 percent for the day. In Dubai, 24K gold was trading at Dh615.25 per gram, reflecting continued strong demand from investors seeking a safe haven amid global uncertainty.
Market watchers say activity is set to pick up even more in the coming week as Asian financial hubs return from the Chinese New Year holiday. With gold consistently holding above the psychologically important $5,000 level, any dips below have been quickly met by eager buyers.
Michael Brown, senior research strategist at Pepperstone, sees the recent calm in trading as a positive sign. “The speculative frenzy has cooled, allowing fundamental drivers to reassert themselves,” he explained. Brown attributes gold’s strength to central banks diversifying their reserves and more retail investors adding gold to their portfolios.
Geopolitical tensions in the Middle East and Eastern Europe have only added to gold’s safe-haven appeal, building a risk premium into prices. Meanwhile, concerns about government debt in major economies and expectations that the US Federal Reserve will eventually cut interest rates are providing further support.
Zaheer Anwari, co-founder and CEO at The Revacy Fund, says gold continues to benefit from strong demand and a global move away from US assets. He notes that while a resolution of geopolitical conflicts or a more aggressive Fed could create short-term volatility, the overall trend remains bullish.
Major financial institutions are joining the chorus of optimism. JPMorgan, for example, forecasts gold could reach $6,300 per ounce by the end of 2026, citing robust central bank buying and sustained investor inflows.
Still, analysts urge caution: while the path toward $10,000 is possible, shifts in geopolitics and monetary policy could change the outlook. For now, though, gold’s future looks brighter than ever.
