Gold Prices

29-01-2026 - Over the past month, gold prices have surged significantly, climbing from $4,325.1/oz to $5,301.6/oz. This increase highlights a robust demand for gold, influenced by market dynamics and potential economic factors affecting investor behavior. The forecast for gold prices is $5,268.2/oz, slightly down from the current $5,301.6/oz, indicating a minor decrease of $33.4/oz or 0.6%. This suggests a generally stable price trend with minimal risk associated with gold.

The current forecast also points to a notable downward price impact of $57.1/oz due to supply factors, particularly inventories. However, demand, flows, and technical data indicate upward pressure, resulting in a mixed outlook for the gold market. While the forecast anticipates a decline in COMEX gold prices to $4,425.4/oz over the next month, external analyses offer a different perspective. For example, Goldman Sachs Research projects a 6% increase in gold prices by mid-2026, driven by strong demand from central banks and investors. This suggests a bullish trend, presenting a contrasting view from external sources.

Overall, the gold market is experiencing a complex interplay of factors, with short-term forecasts indicating potential declines, while longer-term projections suggest growth driven by sustained demand.