From Startup Fortune · · 1m 10s
Gold Shatters $5,000 With Fastest Weekly Surge
Gold jumps over $5,000 an ounce in one week, beating all major banks' 2026 forecasts.
In brief
Gold jumps over $5,000 an ounce in one week, beating all major banks' 2026 forecasts. Gold surged 10% in a single week to $5,594.82 an ounce, exceeding Goldman Sachs' $5,400 target and JPMorgan's $6,300 forecast. Originally reported by Startup Fortune.
Gold Hits Record $5,594.82
Spot gold reached a record $5,594.82 an ounce this week before settling near $5,546.
Weekly Gain Beats Stock Portfolios
Gold gained more than 10% in one week, outperforming most stock portfolios' annual returns.
2026 Price Forecast Surpassed
Gold exceeded Goldman Sachs' $5,400 target and JPMorgan's $6,300 forecast by hundreds of dollars.
Central Bank Gold Buying
China's central bank added 21 tonnes of gold in September, its largest single monthly purchase since 2023.
Global Central Bank Activity
Globally, central banks bought 288.9 tonnes of gold in Q2 2026, up 62% from the previous year.
Dollar Weakness and Fed Rate Cuts
A weaker dollar and expected Federal Reserve rate cuts boosted gold prices as traders priced in further cuts.
US Government Shutdown Impact
The US government shutdown created data blackouts, fueling rate-cut bets and safe-haven buying.
What matters most
Gold surged 10% in a single week to $5,594.82 an ounce, exceeding Goldman Sachs' $5,400 target and JPMorgan's $6,300 forecast.
