Who will be the true driving force behind the surge in gold in 2026?

This week, gold prices rebounded past $5,000 per ounce, driven by a weakening dollar, central bank purchases, and global uncertainties. The market is pricing in expectations of interest rate cuts, with the dollar falling nearly 1%—making gold more attractive as a safe-haven asset—and China's central bank continuing to buy gold for the 15th consecutive month, indicating structural demand beyond short-term trading.

This rally is not just driven by retail panic buying—major drivers include global central banks and institutional investors, who are diversifying reserves away from fiat currencies amid geopolitical and fiscal pressures. As gold futures chase new record levels and headlines highlight the pressures on Federal Reserve independence, this convergence of macro forces is giving gold new momentum as a hedge against crises and a support for investment portfolios. #我在Gate广场过新年 $XAUT