Goldman Sachs released a report on the 18th, predicting that gold prices will climb to $4,900 per ounce by the end of 2026. The bank noted that further upside is possible if private investors continue diversifying their assets.

The report also highlighted that central banks may significantly increase gold purchases this November—a trend sustained for years—as part of efforts to hedge against geopolitical and financial risks through reserve diversification.

As of the 18th, gold futures traded at $4,037 per ounce. Driven by multiple factors, gold prices have surged 55% year-to-date.