Over the past year, gold’s performance has been nothing short of, well, dazzling. Between June 2025 and June 2026, gold’s price rose from $3,303 to $4,008 per troy ounce.
Gold prices opened lower on July 13 and are moving lower still following several exchanges of airstrikes between the U.S. and Iran over the weekend. Geopolitical events continue to be the most influential driver of precious metal prices.
All investors have the same question: What will happen to gold’s price in 2026?
Gold analysts believe gold (GC=F) will hold steady this year.
If you are considering adding gold to your portfolio or increasing your investment, here is gold’s current price and expert forecasts.
Read more: Thinking of buying gold? Here’s what investors should watch for.
Today’s gold price tracker
How has gold performed over the past 10 years?
Data from the National Mining Association shows explosive increases in gold prices over the past five and 10 years. Between 2016 and the end of 2025, gold’s price went from $1,250 to $4,318 per ounce.
To put those numbers in perspective, say you invested $10,000 in physical gold in 2016 when gold was $1,250 per ounce. Your investment would have bought eight ounces of gold. Assuming a price of $4,318 per ounce, you’d have $34,544 at the end of 2025, more than three times your initial investment.
Learn more: How much gold would $1 million buy at different points in history?
What caused the changes to gold’s price?
Between 2016 and 2019, gold’s price was relatively steady, with very little fluctuation. That trend changed in 2020, due to a combination of factors, including the economic uncertainty caused by the COVID-19 pandemic, geopolitical tensions, and rising inflation. With people nervous about the economy and stock market, investors increasingly put their money into gold as a safe-haven asset, causing the prices to jump.
In 2025, gold’s price skyrocketed, going from $2,623 to $4,339 per ounce — a 65% increase in one year, thanks to the following issues:
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Declining value of the U.S. dollar: The U.S. Dollar Index, which measures the value of the dollar against other major currencies, declined in 2025. Its lower value is a signal of concerns about the U.S. economy, so more investors turn to gold.
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Tariffs: Concerns about President Trump’s tariffs on foreign goods increased the demand for gold as a “safe” investment.
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Consumer demand: Gold is more accessible to investors than ever, with retailers like Costco and online sellers making gold coins and bars easily available. With more individual investors buying gold bullion, there is more demand, impacting gold’s price.
At the moment, it’s still unclear how the latest tensions with Iran have affected shipping traffic in the Strait of Hormuz, as there have been conflicting reports from Washington and Tehran about whether the strait is open and whether oil shipments are moving through it.
These latest escalations have sent oil prices (BZ=F) over 9% higher over the last five-day period, carrying gas prices higher right along with them. The longer these conflicts continue, the more inflation will remain a central focus for the Fed in its upcoming rate decisions. Higher rates tend to put downward pressure on gold prices.
Learn more: What to know before buying gold, silver, or platinum from Costco
Gold price forecast for 2026
Financial analysts with JP Morgan and Morningstar project continued strength in the gold market. If the global conflicts remain unresolved and central banks maintain their current rates, gold will continue to act as a safe-haven asset for both institutional and retail investors.
Because of these factors, experts with JP Morgan and Morningstar believe that gold will perform well this year, with sustained higher prices in 2026.
What will gold be worth in 2030?
Predicting how gold will perform over the next few years is tricky. Financial experts and analysts who look at long-term macroeconomic trends have mixed opinions.
With the current inflation rate and political climate, many analysts think gold will establish a new baseline price over $5,000 per ounce, but if conflicts calm down, gold’s price may steady, and we may not see the steep price changes that we’ve experienced over the past decade.
What gold’s price will be in 2030 will depend on the monetary policies set by the Federal Reserve and other global central banks.
Is gold a good investment?
Gold has been a reliable store of value for thousands of years. Whether gold is a good investment depends on your risk tolerance, financial goals, and what other investments you have. Unlike stocks or bonds, gold doesn’t pay interest or dividends. Instead, its role is mainly as a form of wealth preservation, providing stability during periods of economic uncertainty.
As a result, gold shouldn’t be the focal point of your portfolio. In general, experts recommend putting no more than 15% of your portfolio into gold.
Read more: How to invest in gold in 7 steps
Gold price prediction FAQs
Will gold prices go down in 2026?
Although gold analysts are optimistic about gold’s future, the market is volatile right now, so gold’s price may fluctuate significantly over the next few months. Short-term price dips are likely, but over the long-term, gold has historically performed well.
Will gold hit $5,000?
Gold has already demonstrated that it has the ability to surpass $5,000 per ounce. It was over $5,000 per ounce as recently as March 17, before dropping. As the precious metals market stabilizes, gold’s price may reach $5,000 again.
Will gold hit $6,000 in 2026?
While the outlook for gold is strong, whether it will reach $6,000 in 2026 depends on economic conditions. Some analysts believe gold may reach that threshold, while others are more conservative in their predictions.
What affects the price of gold?
The price of gold is driven by several factors, including inflation rates, world issues, central bank reserves, and consumer demand. Gold’s price tends to rise during periods of economic uncertainty or conflict.
What is the highest gold price ever recorded?
The highest gold price ever occurred on Jan. 28, 2026, when gold reached $5,589 per ounce.
