Gold Surge Driven by Fundamentals, Not Speculative Frenzy
Gold's record-breaking rally this year stems from solid fundamentals rather than speculative mania, according to Goldman Sachs analyst Lina Thomas. Central bank accumulation and private investor repositioning amid Fed rate cuts have fueled the uptrend—a normalization after years of under-allocation.
Goldman revised its December 2026 target to $4,900/oz, citing robust ETF inflows and sustained central bank demand. Historical parallels to the 1970s Gold rush suggest further upside potential as monetary policy dynamics mirror past catalysts.