$XAU , also known as gold, is currently trading at $4920.64, with a 1.85% increase in the last 24 hours. The metal has climbed over 11% so far in 2026, extending a rally that saw it jump 64% last year. Goldman Sachs has raised its end-2026 gold price forecast to $5,400 per ounce, citing private-sector and emerging market central banks' diversification into gold.
*Key Factors Influencing Gold Price:*
- _Central Bank Buying:_ Emerging market central banks are likely to continue diversification of their reserves into gold, with average central-bank purchases expected to be around 60 tonnes in 2026.
- _Geopolitical Tensions:_ Trade wars and tariff threats are bullish for gold, driving safe-haven demand and currency debasement concerns.
- _Monetary Policy:_ The Federal Reserve's easing monetary policy and potential rate cuts support gold prices.
*Technical Analysis:*
- Gold is in a robust primary uptrend, with moving averages indicating short-term bullish momentum.
- Key support levels are $4,762.72 and $4,701.55, while resistance levels are $4,881.57 and $5,000.
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