tl;dr
Daan Struyven, Goldman Sachs' co-head of global commodities research, predicts gold will rise to $4,000 per troy ounce by mid-2026, up from the current price of $3,310.74. He highlights similarities between gold and Bitcoin, such as limited supply, which appeals to investors concerned about inflatio...
Goldman Sachs forecasts a surge in gold prices to $4,000 per ounce by mid-2026, driven by limited supply and inflation concerns. Currently, gold stands at $3,310.74 per troy ounce.
Daan Struyven, co-head of global commodities research at Goldman Sachs, points out that gold and Bitcoin share the characteristic of limited supply, which attracts investors wary of inflation risks caused by expansive monetary policies.
However, despite Bitcoin's recent outperformance compared to gold, it remains more volatile and closely correlated with technology equities. This correlation makes gold a more reliable safe-haven asset during equity market downturns.
Bitcoin recently hit an all-time high near $111,814 and is currently trading around $109,078. Despite its volatility, Bitcoin has posted strong monthly gains, appreciating nearly 16% over the past month and 2.5% in the last week.
Struyven emphasizes that while both Bitcoin and gold benefit from limited supply, Bitcoin’s sensitivity to market sentiment and its alignment with tech stocks reduce its effectiveness as a hedge compared to gold.