🌟 Goldman Sachs has turned bullish on gold — $4,900/oz by 2026! 🌟 Here’s why they are optimistic: 1️⃣ Central banks are accumulating gold. Following the freezing of Russia's foreign assets in 2022, many emerging market central banks are turning to gold as a safe reserve asset. Goldman expects this trend to continue, estimating ~70 metric tons of purchases in 2026. 2️⃣ Fed rate cuts support gold. The U.S. Federal Reserve is likely to reduce rates by 75–100 bps by mid-2026, lowering real yields and making gold more attractive. This could also lead to a significant increase in ETF inflows. 💹 Market context and risks: Gold prices have already risen by 40% in 2025, with further increases possible. Risks include a sharp decline in the stock market, forced selling, or lower-than-expected Fed cuts.