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Gold’s bull run to continue in 2026
Gold staged a record-breaking rally in 2025, doubling in value in under two years. We believe that gold’s main drivers, including central bank buying, Fed rate cuts, a weaker dollar, concerns about the Fed’s independence, and ETF buying, are all still in place, while the global macro environment remains broadly supportive for gold. President Trump also recently said he has decided on his pick for the next Fed chair, a candidate that the market expects will push for lower interest rates. All of these factors will benefit gold. We see gold prices hitting more record highs in 2026. Gold has long reflected global ... (full story)