Gold prices are on a steady rise, nearing an inevitable increase to $5,000/oz by the end of 2026. Last week, prices reached $4,042/oz, just $276/oz shy of the forecasted $4,318/oz for Q426. As of today, the price has risen further to $4,072/oz. Strong ETF flows and robust central bank buying contribute to this upsurge. The current rate of ETF flows has exceeded expectations, pushing the forecast higher. Although clarity on hedge fund positions remains uncertain, the surge in ETF flows points to heightened uncertainty levels since the 2024 Trump victory. This relationship between ETF flows and uncertainty is seen as a ... (full story)