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Gold Rally Continues: Experts Predict More Gains in 2026
10 Jan
Summary
- Gold prices surged 65% in 2025, reaching an inflation-adjusted high since 1980.
- Central banks and major investors maintain conviction in gold's long-term appeal.
- Declining confidence in major currencies supports gold's status as an anti-fiat play.
Gold achieved a remarkable 65% surge in 2025, marking its strongest performance in nearly half a century and surpassing an inflation-adjusted high from 1980. This rally was fueled by a confluence of factors, including falling interest rates and geopolitical tensions, attracting both retail and institutional investors alongside central banks.
Despite the exceptional gains, a significant number of prominent money managers foresee continued upward momentum for gold in 2026. They cite persistent supportive forces such as ongoing central bank accumulation, declining interest rates, and substantial fiscal deficits. Additionally, eroding confidence in major developed-market currencies, exacerbated by rising sovereign debts and concerns over central bank independence, bolsters gold's appeal as a safe-haven asset.
Experts like Mike Wilson of Morgan Stanley view gold as a critical "anti-fiat currency play," recommending a substantial allocation to real assets. While acknowledging the potential for short-term volatility, the overall sentiment remains bullish, with sustained central bank demand, particularly from China, expected to provide a stable foundation for prices. Some funds are increasing their gold-related investments, anticipating modest gains and strategic hedging opportunities.
