Gold’s blistering rally to start 2026 – surging past US$5,500 an ounce – has already eclipsed many full-year price targets, forcing analysts to upgrade their outlooks. And for some, the US$6,000 threshold is now in view.
The buying spree has prompted some Chinese funds to suspend new purchases, with one warning investors of “the risk of trading at a premium in the secondary market”.
As of midday Thursday, spot gold stood at about US$5,540 per ounce, easing from an earlier high of US$5,598 following the Federal Reserve’s decision to keep interest rates unchanged – a move broadly in line with market expectations.
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Gold’s blistering rally to start 2026 – surging past US$5,500 an ounce – has already eclipsed many full-year price targets, forcing analysts to upgrade their outlooks. And for some, the US$6,000 threshold is now in view.
The buying spree has prompted some Chinese funds to suspend new purchases, with one warning investors of “the risk of trading at a premium in the secondary market”.
As of midday Thursday, spot gold stood at about US$5,540 per ounce, easing from an earlier high of US$5,598 following the Federal Reserve’s decision to keep interest rates unchanged – a move broadly in line with market expectations.
The precious metal’s current price still represents a historic gain of 28 per cent in the first four weeks of the year.
Amid the rally, Hong Kong’s first gold exchange-traded fund, the Hang Seng Gold ETF, surged more than 9 per cent on its trading debut on Thursday.
Investors are piling into gold amid mounting concerns over US dollar assets, fuelled by policy uncertainty under President Donald Trump and fears regarding the Federal Reserve’s independence. The speed of the advance has made late-2025 forecasts obsolete and left strategists scrambling to react.
US Fed chief threatened with criminal indictment by Trump administration
US Fed chief threatened with criminal indictment by Trump administration