Here’s What the Experts Are Saying About Gold Prices

After a 65% price gain in 2025 and new record highs in 2026, gold prices saw a large reset at the end of January. Right now gold is trading at around $5,000 an ounce, and many people are wondering whether gold will continue to push higher, or whether January’s price drop was the beginning of the end of the gold bull market.

If you have a long memory, you probably remember when gold hit all-time highs of over $1,900 an ounce in 2011, before then slowly falling back to just over $1,000 in 2015. So it’s only natural that people would question whether gold’s price moves today could mirror the price moves from back then, and whether they should buy gold today or wait.

But if history is anything to go by, gold could still have a ways to go. And in the eyes of gold experts today, the gold price still has a lot of headroom.

Here’s what the experts are saying about the gold price.

Gold Price Is Resetting

According to the CEO Of American Pacific Mining, the current pullback in the price of gold is a reset, not an end to the bull market. As he pointed out in a recent interview, nothing goes up forever.

That’s an important point to keep in mind, especially considering the meteoric rise in the gold price over the past years. It was only in March 2025 that the gold price first hit $3,000, and in October 2025 it hit $4,000.

In January 2026 the gold price hit $5,000 for the first time, and peaked above $5,500 in late January 2026. But even after its sudden and dramatic price drop, gold is still moving right around the $5,000 mark.

Every time it seems that gold might drop to $4,800 or lower, it suddenly picks right back up again. That seems to indicate that we’ve reached a practical price floor at the moment, and that gold could pick up momentum again.

According to American Pacific’s CEO, there has been no fundamental shift in the demand for gold, as geopolitical tensions and protectionism remain underlying problems that support the gold price in the long term.

Analysts Remain Bullish on Gold Price Targets

Analysts at ANZ bank have recently raised their price target on gold, expecting the gold price to reach $5,800 an ounce in the second quarter of 2026, an increase from their previous price target of $5,400 an ounce. This is significant because this more bullish outlook comes even after gold’s pullback from its all-time highs.

According to ANZ, expectations for this year include at least two Federal Reserve rate cuts, if not three, as the inflation outlook seems to have moderated. Indeed, the latest CPI numbers show that inflation rates have fallen to 2.4% year on year, which if that continues could strengthen the case for Fed rate cuts.

That, coupled with continued economic and geopolitical uncertainty, could continue to support further inflows into gold, according to the analysts. And as rate cuts continue to drive yields on Treasury bonds lower, gold becomes an even more attractive asset versus Treasuries.

UBS analyst Dominic Schnider is even more bullish on gold, expecting the gold price to reach $6,200 by mid-year. According to Schnider, key factors pushing the gold price include “central bank and investor demand, large fiscal deficits, lower real US interest rates, and geopolitical risks.”

Schnider’s comments came just one month after he had predicted that gold would reach $5,000 by the end of the first quarter, a mark that was reached much quicker than that.

What Happened to the Gold Price from 2006 to 2008?

For those who wonder whether the gold price today has parallels to the gold price in 2011, it might be more helpful to compare the gold price today to the gold price from 2006 to 2008.

For one thing, 2011 was a couple of years after the Great Recession. Today, the US economy is not in recession, although fears of recession are growing.

Where the economy is right now is probably analogous to 2006 or 2007, when warnings of recession were growing, but recession hadn’t yet occurred. Stock markets were still booming, and warnings of recession were shrugged off by policymakers.

Back then gold climbed from $531 at the beginning of 2006 to $635 by the end of the year. In 2007 gold continued to climb, from $640 at the beginning of the year to $833 by the end of the year.

That price growth wasn’t straight up either, with numerous pullbacks and dips along the way. But with 23% price growth in 2006 and 31% in 2007, it was clear that gold was on the march.

2008 was a mixed bag, with gold peaking at over $1,000 in March before falling nearly 30% by October. Still, gold picked up during the rest of the year and ended up notching a 5% gain for the year.

And we all know how gold performed from there, rising 24% in 2009, 30% in 2010, and 10% in 2011 to hit all-time highs.

All that is to say, if you’re worried about gold having topped out today, history shows that gold doesn’t always move in a straight line upward. Prices move up and down with market conditions.

Gold’s performance in the 20th century, however, has been fantastic, with an average annualized growth rate of 12.4% per year since 2001, versus 6.3% for the Dow Jones and 6.8% for the S&P 500.

If you want to try to put future potential growth to work for you, now is the time to start thinking about buying gold. Just call the precious metals specialists at Goldco to learn more about all of your gold buying options.