According to Bloomberg, gold began to fall in price after U.S. President Donald Trump announced the lifting of duties for eight European countries. He has repeatedly stated that it is up to the US to control Greenland. This triggered a diplomatic crisis with NATO allies in Europe, spooked financial markets and boosted gold’s appeal.
According to Reuters sources, the value of gold will rise in the future. Gold is in demand because it is backed by central banks and also has a stronger position compared to other precious metals with industrial exposure.
Goldman Sachs experts raised their forecast for gold at the end of 2026 from $4900 to $5400 per ounce. They noted that the private sector and central banks of emerging markets are diversifying their assets by buying gold.
