Goldman Sachs has hiked its gold price forecast by 10% on the back of blistering private-sector demand for the precious metal. Analysts at the Wall Street giant now expect gold prices to reach $5,400 per troy ounce by the end of the year, up from $4,900 per ounce in their previous forecast, as private sector diversification into gold has started to play out. "The rally has accelerated since 2025 because central banks started competing for limited bullion with private sector investors," wrote