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Gold
The latest gold price trends, market news and where the metal may head through 2026.
Gold commodities news and the 2026 price outlook, tracked here. The live gold price and its daily moves sit at the top of this page. Below them you will find the forces behind the rally, current market news and how the year ahead is shaping up.
Gold has had an extraordinary stretch. In 2025 the price climbed about 65%, from roughly US$2,623 to US$4,339 an ounce. It then set a record near US$5,590 an ounce on 28 January 2026 before easing back.
Several forces pull in the same direction. Central banks have bought gold heavily, diversifying reserves away from the US dollar.
Persistent inflation, negative real interest rates and geopolitical tension have deepened safe-haven demand. Exchange-traded fund inflows have returned too, as investors chase the trend. When faith in currencies or government bonds slips, money tends to move here.
Forecasters agree gold is high. They disagree on what comes next. Bank targets for the end of 2026 span a wide band, from around US$4,000 at the cautious end to US$6,000 or more at the bullish end.
J.P. Morgan has flagged a path toward US$6,000 if central-bank buying and rate cuts continue, while Goldman Sachs has pointed to about US$4,900. A stronger dollar or a hawkish Federal Reserve remain the main risks to the run. Early 2027 estimates are wider still.
Record prices have widened margins across the sector. Producers such as Newmont, Barrick and B2Gold have seen cash flow rise even where output is flat.
Australian producers have felt it sharply, with a strong gold price in local dollars lifting Western Australian operations. High prices also revive marginal deposits and make capital easier for explorers to raise.
Track prices and company moves beside our precious metals page, our ASX gold stocks coverage and daily company announcements, plus Australian markets for local producers.
What is the gold price now?
See the live price at the top of this page, quoted per ounce.
What was gold's record high?
Near US$5,590 an ounce, set on 28 January 2026.
Why is gold so high?
Central bank buying, inflation and safe-haven demand.
What could push gold higher in 2026?
More rate cuts and continued official-sector buying.
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Disclaimer
The information on this page is general in nature and is not financial product advice. Commodity prices are delayed and provided for reference only. Consult a licensed financial adviser before making any investment decision.
