Gold (GC=F) futures surpassed $4,900 for the first time on Thursday as Goldman Sachs analysts raised their price target on the precious metal, citing private-sector investors jumping into the rally. “We raise our Dec2026 gold price forecast to $5,400/toz (vs. $4,900 prior) because the key upside risk we have flagged — private sector diversification into gold — has started to realize,” Goldman’s Daan Struyven and his team said in a note on Wednesday night. The analysts predict that private-sector buyers diversifying their portfolios won’t be selling this year, helping keep prices elevated. Goldman Sachs noted that ... (full story)