According to Kitco data, global gold prices officially surpassed the $4,200 per ounce mark at noon today (October 15), marking a 1.4% increase from the latest closing level. Since the beginning of October, global gold prices have surged by nearly 9%, bringing the year-to-date gain to approximately 60%.
Gold prices have been on a steady uptrend throughout September and the first half of October, driven by growing investor concerns over rising inflation, geopolitical instability, and potential monetary policies that could weaken fiat currencies.
Bank of America, one of the largest banks in the United States, has issued a notable forecast predicting that gold prices could skyrocket to $5,000 per ounce by 2026.
“The White House’s unconventional policy framework will continue to support gold, given the fiscal deficits, rising debt, intentions to reduce the current account deficit, and efforts to cut interest rates while inflation hovers around 3%,” analysts stated.
Earlier, in the latest commodities research report released on Monday, commodity analysts at Societe Generale – one of Europe’s oldest and largest banks – suggested that even with a conservative outlook, gold prices appear poised for a significant surge, potentially reaching $5,000 per ounce by the end of 2026.
“With strong inflows into gold ETFs and sustained central bank gold purchases expected, we are confident in raising our gold price target,” Societe Generale noted.
Societe Generale analysts forecast that gold prices will hit $5,000 per ounce by the end of 2026, driven by stronger-than-anticipated investment inflows. “While there is no clear information on hedge fund positioning, we observe that ETF gold inflows over the past few weeks have been exceptionally robust, exceeding our initial projections. What explains this surge in inflows? We have noted a strong correlation between ETF flows and levels of uncertainty since Trump’s election in November 2024, which is a key factor partly explaining current gold price movements,” the report explained.
End of October 14th: Unusual Trends in Ring and Bullion Gold Prices
By day’s end, the price of gold rings and gold bars unexpectedly reversed course, surging upward once more.
Gold Price Today 12/10: Gold Trades Sideways After Reclaiming $4,000/oz Threshold
On the morning of October 12th, the global gold price listed on Kitco remained steady at $4,016 per ounce, unchanged from the previous morning’s opening rate.
Morning of October 11: Domestic Gold Prices Continue to Rise
Opening today’s trading session, several gold retailers continued to adjust their prices upward for gold rings and gold bars, with the highest increase reaching 600,000 VND per tael.
Nationwide Gold Trading Overhaul: Citizens Urged to Take Immediate Notice
This marks a significant shift in Vietnam’s gold trading market.
Gold Rush: Crowds Swarm to Buy as Prices Surge Past 142 Million VND per Tael (VIDEO)
Amidst a global gold price surge reaching consecutive record highs, domestic gold prices have risen, prompting long queues of buyers in Vietnam.
