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Gold Price Forecast: $5,000 an Ounce and Climbing!

Should you be investing in gold stocks or Gold ETFs? Are these the best stocks to buy right now? Last year, I wrote about the Gold’s explosive growth to $3000 an ounce, and alerts that it could go higher. Well, it did to $5,000 today.

You don’t buy gold, you buy gold stocks (or gold ETFs for diversification safety), and if you had bought from that list 12 months ago, you would have quadrupled your investment. But buying gold has always been a low profit affair. That certainly changed in 2025.

Now a year later, with the price rising above an astonishing $5000 an ounce, with 70% growth in the last year, are we seeing retail speculators plow their money into gold unwisely? Is downward the only path at this point, or are we going to see stellar price growth in 2026? Is it still better than anything else on the stock market including the best ai stocks?

Experts predicted a US$3000 price level, which certainly missed the mark. All those doomsday economic disaster/gold hypesters we laughed at are now enjoying a laugh themselves.

Before you take a leap into gold stocks or gold ETFs, during these troubling economic times, you might want to know for sure what supports and drives gold prices. Right now, we have a wall of worry that’s driven by more than the Trump tariffs. It’s a global insecurity issue, and the tariffs certainly feed into how the world feels as the US withdraws its investment and free gift money to the world.

Investors will be eyeballing the best gold stocks to buy, and perhaps silver stocks too.

The Rocketing Price of Gold Bullion

How much more is gold worth today than ten years ago? In 2015, gold was worth $1100 dollars an ounce compared to the current price of gold which is $US 5,000 per troy ounce. And it’s rising fast, up nearly 30% year to date.

So the price of gold might reflect how the world’s countries feel about the transition away from American dependency and into a new international business environment filled with tariff walls. Obviously, investors don’t good about the new reality. Because the price of gold has rocketed past US$4700 an ounce.

In the near future, people are considering “any case of turbulence in the economy,” FxPro senior market analyst Michel Saliby explained. “This is why they’re keeping a decent portion of gold in their portfolio as a ‘safe haven.’” — from AP news article.

Old Forecast: Citi Research last week, raised its gold price target for the next three months to $3,200 per ounce from $3,000, citing robust official sector demand and higher exchange-traded-fund demand. “In our bull case, we see gold prices reaching $3,500 per ounce by year-end, underpinned by much higher hedging/investment demand on fears of US hard landing/stagflation,” analysts at Citi said in a note.

Stagflation hasn’t happened in the US and global stock markets are performing very well. There was no hard landing.

New Forecasts for Gold Price for end of 2026

J.P. Morgan Global Research

Forecast: Gold could reach around $5,000 per ounce by year-end 2026 ✔️.

Goldman Sachs Analysts (via institutional forecasts)

Forecast: Around $4,900 per ounce by the end of 2026 ✔️

Chris Wood (Jefferies Group)

Forecast Direction: Jefferies forecasts among the highest 2026 gold price targets (e.g., up toward ~$6,600/oz in some broker forecasts) ⁉️.

It takes time to change economists, analysts and investors views. Consider Statista’s gold price projections:

Economic insecurity has always driven the price of gold, and the world is in an insecure place right now. President Trump’s vision for the US and its return as an economic powerhouse isn’t quite appreciated or liked by some investor groups (Pro-China lobby). Will his dream succeed or crash? The SPDR Gold Shares (GLD) exchange-traded fund (Gold ETF) reached a new high this week.

What is Causing the Price of Gold to Rise?

Right now, in January 2026, the drivers are political and economic uncertainty (although the world and the US are doing very well), a falling US interest rate and USD (weakens exports to the US but strengthens US exports), and major central banks (add gold to their reserves to diversify away from other currencies) and investment funds are buying gold in bigger amounts.

- Monetary Policy and Interest Rates: The U.S. Federal Reserve is suggesting a couple of potential FED interest rate cuts might happen in 2025, which can weaken the dollar and make gold more attractive as a safe, non-yielding asset.
- Geopolitical Tensions: Ongoing geopolitical uncertainties, such as conflicts in the Middle East, have heightened demand for gold as a safe-haven asset.
- Trade Policies and Economic Concerns: Trade tensions and import tariffs have raised fears of inflation and economic slowdown, prompting investors to turn to gold as a hedge.
- Central Bank Demand: Increased gold purchases by the globe’s central banks have bolstered demand, contributing to higher prices.
- Investor Behavior: A shift in investment preferences, particularly among younger investors, from traditional assets to alternatives like gold has also played a role in driving up prices.
- Hyperinflation: Gold spikes have happened just before major stock market crashes, as insecure investors bought as a hedge against a coming recession.
- Price Speculation: Institutional and retail investor’s euphoric investing impulse sees gold stocks, gold ETFs and gold itself as a way to get rich.

Given most world currencies have flattened vs the US dollar, gold is even more valuable for them in their chosen currency.

Tom Lydon, CEO of ETF Trends stated that Gold supply is declining and mining is more expensive, which helps drive the price of Gold higher. And Ben Carlson, director of institutional asset management at Ritholtz Wealth Management believes a low US dollar can juice up the price of gold.

So is the upside really good this time to buy gold, gold etfs, or good miner stocks?

Screenshot courtesy of Youtube and Cambridge House International

We’ve all heard the recommendations of Kitco and others to buy gold, and during its flat price period we all yawned in response. It takes a lot to raise the price of gold in the technology era, where gold seems to have little value at all. But the perfect storm has arrived. The question for investors now, is “Should I still buy gold stocks?” Is the price peaking or is economic security growing globally.

The Trump tariffs aren’t acknowledged as a factor, yet the timing of the extreme growth is suspicious.

Which Gold Stocks are Good Investments?

Some gold stocks to consider include major gold producers like Newmont (NEM), Barrick Gold (ABX/GOLD), and Agnico Eagle Mines (AEM), along with royalty/streaming companies like Franco-Nevada (FNV) and Royal Gold (RGLD), offering diversified exposure, while higher-growth miners like Kinross Gold (KGC) and Lundin Gold (LUGLD).

Barchart’s List of Best Gold Stocks to Buy

This updated chart of gold stocks from Barchart.com reveals the shocking growth of gold stocks in the last year, some improving their value by 400%. Research the best laggards.

NerdWallet using Finviz data is liking these gold stock picks:

Ticker	Company	Performance (Year)
EXK	Endeavour Silver Corp	160.69%
SSRM	SSR Mining Inc	132.87%
NGD	New Gold Inc	131.05%
KGC	Kinross Gold Corp	129.08%
IAG	Iamgold Corp	118.67%
CDE	Coeur Mining Inc	115.10%
AEM	Agnico Eagle Mines Ltd	103.67%

It may not be US buyers that are fervent about gold, but for the rest of the world, including Chinese and Japanese investors, it might look really good.

Is the Stock Market in a Bubble?

The US stock market forecast is positive based on a solid US economy, however Trump’s tariff actions are creating a deeper transition period. That transition could be severe if he chooses the stay the current course. If the Tariffs aren’t eased by summer, then it stands to reason that Gold prices will stay on their record-high course. The reciprocal tariffs will kick in on April 2nd, and it’s unlikely foreign countries will eliminate their US import tariffs, so we’re in for a trade war. Further, some countries will increase their tariffs on US products to worsen the situation. Although the US economy will improve without the severe trade imbalances and US debt worries, the global economy is in for a world of hurt.

The DOW, S&P, and NASDAQ have all hit new records. Copper, Silver and other metals are hot commodities too, which is why silver stocks are so strong currently.

Is the US stock market bubbled up? 2025’s forecast projections are positive for the US economy, and valuations on stocks have fallen into investible territory. Some are calling the bottom right now.

Find out more on which equities might be the best stocks to buy right now.

* Note: review Gold companies thoroughly for production output, management team, reputation, price history, dividends paid, and do a current Price to Net Asset Value (P/NAV) ratio. Net Asset Value (NAV) is the value of a company’s assets minus its liabilities. See more at Orbeca.

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