World Gold Council: gold prices may fluctuate within a range next year, and strong trends may continue.

The World Gold Council stated that gold had an impressive year in 2025, hitting over 50 historical highs and delivering a return of over 60%. This performance was supported by escalating geopolitical and economic uncertainty, a weakening US dollar, and positive price momentum. Both investors and central banks have increased their allocation to gold, seeking diversification and stability. Looking ahead to 2026, the uncertainty in global economics will impact the outlook for gold. The price of gold largely reflects consensus expectations of the macroeconomic outlook, and if current conditions persist, the price of gold may remain range-bound. However, based on the current situation, 2026 may continue to surprise. If economic growth slows down and interest rates further decrease, gold may experience a mild uptick. During more severe economic downturns characterized by rising global risks, gold may show strong performance. Conversely, if policies implemented by the Trump administration are successful in accelerating economic growth, reducing geopolitical risks, leading to higher interest rates and a stronger dollar, gold prices may be pushed lower. Other factors, such as central bank demand and trends in gold recycling, may also impact the market. Most importantly, in a continuously volatile market, the role of gold as a diversification and stable source in investment portfolios remains crucial.