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The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
Metals Focus forecasts the average gold price to surge by 43% to a new record high of $4,920 in 2026. According to reports, the market is set for a structural shift as investor demand for bars and coins is projected to replace jewelry as the largest component of total demand for the first time. However, overall global gold demand is expected to drop in 2026 due to double-digit losses in jewelry and a slowdown in central bank purchases.
This bullish price outlook emerges as investors evaluate precious metals against macroeconomic indicators, such as South Korea's inflation rate which hit 3.1% in June per market data. Comparing peers, major miners like Newmont and Barrick Gold have maintained resilient cash flows in recent quarters, supporting the sector's ability to capitalize on higher price targets despite a projected modest growth in global mine production.
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Sign InTechnically, traders are gauging how these long-term projections will impact current consolidation levels ahead of key economic catalysts. The upcoming calendar features the US ISM Manufacturing PMI and several Federal Reserve speeches, which will be pivotal in determining the immediate momentum of gold prices relative to the projected 2026 record highs.