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CommoditiesHigh Impact•9 March 2026•

1 min read

Goldman Sachs Forecasts Gold to Reach $5,400 Amid Mining ETF Surge

World map with commodities like oil, gold, coffee, wheat, and metals, overlaid with an upward green arrow and financial charts.

Key Facts

1Goldman Sachs projects gold prices could reach a target of $5,400.

2The VanEck Gold Miners ETF (GDX) is up 18.2% year-to-date.

Goldman Sachs has issued a highly bullish forecast for gold, setting an ambitious price target of $5,400 per ounce. This optimistic outlook comes as gold mining equities show significant momentum, with the VanEck Gold Miners ETF (GDX) rising 18.2% since the start of the year. Over the past twelve months, GDX has delivered an extraordinary return of 146.84%, reflecting robust investor interest in the sector. The bank's projection suggests a massive upward revision that could catalyze further capital inflows into bullion and related mining stocks. Conversely, this trend poses a significant challenge for inverse products like the Direxion Daily Gold Miners Index Bear 2X Shares (DUST). Market analysts view this target as a reflection of sustained demand for safe-haven assets amid current global economic challenges.