Even after a record-setting run, the price of gold appears poised for further gains, as China’s central bank extended its buying streak to an 11th straight month and demand for the safe-haven asset continues to grow amid an ongoing US government shutdown.
Per a report from Reuters, investment bank Goldman Sachs lifted its gold price forecast for December 2026 to US$4,900 per ounce from US$4,300 on Monday, citing inflows from Western exchange-traded funds and the likelihood of further central bank purchases.
“Gold is a very excellent diversifier of the portfolio,” the founder of Bridgewater Associates said at the Greenwich Economic Forum in the US state of Connecticut, adding that investors should allocate “something like 15 per cent” of their portfolios to gold as an “optimal mix”.
