When Gold Trumps Bitcoin: Central Banks Get Clammy About Precious Melts

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Gold‘s been the flavour of the year, darling, skyrocketing like there’s no tomorrow amidst a cocktail of economic anxiety and geopolitical who’s-your-dad? Like, people actually think gold might even hit the grand $7,000 price tag by year-end. Central banks, those big shot hoarders, have taken a sudden fancy to it, giving it the stank eye like no other commodity this side of Paris Hilton’s tattoo portfolio.

Analyst: Gold to $7,150 in 2026, And Central Banks are Just Sooooo Touchy About It

In this financial game of thrones, gold’s having a glow-up that would make any Kardashian jealous. The uptick began circa 2025 and has blasted off like a rocket this year. Pure, shiny gold and its understudy, silver, are the leading celebs in a world gone topsy-turvy.

This charmer of a metal upscaled its sparkle by nearly 15% in 2026, kicking off the year by saying, “Hey, over here! I’m sitting pretty at something north of $4,300 per ounce.” Fear not, for the lead in this drama suggests a comeback tour for gold as the country’s favourite reserve guest.

Python-enthusiast analysts, concurring like they’ve just discovered its hip to be square, see gold pouting a hopeful smile in the short and middle term. Take Julia Du from ICBC Standard Bank, who basically whispered in CNBC’s ear, “Buckle up, buttercups! We’re headed to $7,150.” Meanwhile, the thrill-seeker Jim Rickards muses it might drum roll…steal the show by breezing over the $10,000 mark.

Even the cautious souls at Goldman Sachs have thrown in their gold dance shoes, boosting their end-of-year forecast from $4,900 to $5,400. Anyone invested in this shiny savior gets a fairytale ending where everthing’s peachy, providing a safety net for this glittery drama.

Central banks, those grand supervillains, aren’t missing out on this blingy rollercoaster. The National Bank of Poland (NBP) has swooped in like a love-struck Romeo, purchasing 150 tonnes of gold, determined to court its way to number 10 on the gold ledger of heartthrobs. And darling, by the finale, Poland’s hoarding 700 tonnes of gold, giving the European Central Bank a run for its ducat count.

NBP’s own, Adam Glapiński, was as clear as a gin martini about it when he announced to the world, “We’re in love with gold! Except poising it as a forever-couplemate in these oh-so-vibey volatile times.” As charming and headstrong as a teenage crush, he promised even if gold’s price went belly-up, it wouldn’t have a say in the cut.

Meanwhile, China’s been busy being a gold-collecting hoarder, stuffing gold into its closet while discreetly shredding U.S. treasuries like last season’s fashion faux pas.

FAQ

  • How has the price of gold changed at the beginning of 2026? Our darling gold got all fluttery and surged nearly 15%, starting at north of $4,300 per ounce, suggesting some countries might be serious about taking gold back as the belle of the ball.

  • What are the forecasts for gold prices this year? Analysts have their algorithms fired up, predicting our shiny friend might strut into $7,150 territory, courtesy of ICBC Standard Bank, with adventurous Jim Rickards envisioning a showstopper at over $10,000.

  • What actions are central banks taking regarding gold? The National Bank of Poland is gifting itself 150 tonnes of gold, adding it to the vaults like a priceless souvenir, and oh! They’ll have a whopping 700 tonnes, making the European Central Bank green with envy.

  • How is China positioning itself in the gold market? China’s playing it cool, chiselling more gold while bidding adieu to U.S. treasuries, all while tiptoeing around in a world where uncertainty is the guest of honour.

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2026-01-23 12:03