2026 Gold Price Outlook: How Long Will the Bullish Trend Continue?

Gold Price Outlook: One of the Topics Investors Are Most Focusing on This Year

The bullish trend in gold prices that began last year remains ongoing, and as of late February, this trend continues. As economic uncertainties deepen and global risks expand, the value of gold keeps rising. However, how long this trend will last until the end of the year is still a key point of attention. In this article, we will review recent specific trends in gold prices, analyze the main factors influencing price movements, and summarize the outlook for gold prices in 2026.

Current Gold Price Trends and the Secret to Its Strong Rise

Comparing January and Now: How Much Has It Increased?

As of January 13, the domestic gold price was 952,000 won per 3.75g (one “don”). Compared to 541,000 won during the same period last year, this is about a 76% increase. Looking at the chart from domestic gold exchanges, we can see that gold prices over the past year have shown a continuous upward trend, not just temporary fluctuations.

The international market movement is similar. The global gold price in USD per ounce (XAU/USD) was about $4,585 on January 13, representing a roughly 5.85% increase since the start of the year and about 37.97% over the past six months. Even early in the year, such a rise is quite notable.

Since domestic and international gold prices follow very similar patterns, understanding global market changes is essential for predicting future gold price trends.

Key Market Factors Influencing Gold Prices

Strengthening of the De-dollarization Trend

The international trade and financial systems are rapidly changing. Many countries are pushing to reduce excessive dependence on the US dollar by shifting to other currencies or physical assets. This process, called de-dollarization, has two main backgrounds.

First is the strengthening of economic sovereignty. China is gradually increasing the use of the yuan in international trade to elevate its global standing, expanding currency swap agreements with various countries to reduce reliance on the dollar. India is also actively promoting the use of the rupee.

Second is circumventing US sanctions. Countries like Russia and Iran, under US sanctions, are actively using gold and alternative currencies to avoid restrictions on dollar transactions. This de-dollarization trend increases long-term demand for gold, which can drive up gold prices.

Increasing Global Geopolitical Instability

Gold has long been regarded as the most reliable safe asset in investors’ portfolios. As international relations become more unstable, demand for gold tends to automatically increase.

History provides many examples. During the 2008 global financial crisis, fears of systemic collapse caused gold prices to surge. In 2011, during the European debt crisis, investors moved large amounts of funds into safe assets like gold, causing prices to skyrocket. The COVID-19 pandemic in 2020 brought unprecedented uncertainty, and gold hit all-time highs.

Recent international developments also support this trend. Ongoing US-China trade disputes, the prolonged Russia-Ukraine war, and the Israel-Hamas conflict in the Middle East continue to create uncertainty in the global economy, providing a significant backdrop for rising gold prices.

Economic Weakness and Central Bank Policies

The potential weakening of advanced economies also impacts gold prices. Increased economic instability leads investors to prefer safe assets over risky ones, boosting gold demand.

In particular, central bank interest rate cuts are a crucial factor in understanding gold price outlooks. When interest rates are lowered, the attractiveness of interest-bearing assets like deposits or bonds diminishes, making gold more appealing. Additionally, rate cuts are often seen as signals of economic weakness, prompting capital flows into safe assets like gold.

Expert Outlook for 2026: Summarizing the Consensus

Upward Forecasts from Financial Institutions

Most international investment banks have positive outlooks. JP Morgan predicts that by the end of 2026, gold could reach $5,055 per ounce, about 10% higher than current levels.

Goldman Sachs is even more optimistic, indicating that there is still room for prices to rise through mid-2026, suggesting a sustained bullish trend throughout the year.

HSBC has the most bullish forecast, predicting gold could hit $5,000 per ounce in the first half of 2026, roughly a 9% increase from current levels. However, HSBC also warns of increased volatility, advising caution.

Risks and Potential Corrections in Gold Prices

Despite optimistic forecasts, caution is necessary. Some analysts suggest a possible correction in the second half of 2026. If the global economy recovers faster than expected or geopolitical tensions ease, risk appetite may increase, leading to a correction in gold prices.

Therefore, investors planning to buy gold should prepare for short-term volatility with thorough position and risk management strategies. Even long-term investors should analyze timing carefully and adjust positions accordingly.

Considerations for Investing in Gold Prices

With generally positive outlooks, more investors are entering the gold market. To start trading gold, some preparations are necessary.

First, choose a reliable trading platform. Platforms offering low fees and competitive spreads directly impact investment returns. If the platform supports leverage trading, capital efficiency can be maximized.

After registering on a trading platform, opening an account allows immediate trading. Both web-based trading systems and mobile apps enable convenient tracking of gold prices and order execution, so select according to your preferences and lifestyle.

With bright prospects for gold prices, systematic preparation and strategic approaches will help you effectively seize investment opportunities.