Gold is on a roll. As of February 28, 2026, the live gold spot price reached $5,292.66 per ounce, pushing closer to record highs as investors worldwide race to secure the precious metal.
The surge boils down to a few key drivers. Gold is pushing to new closing highs as U.S. tariff uncertainty, softer Treasury yields, and unresolved U.S.-Iran nuclear talks keep safe-haven demand firmly in the driver's seat, with analysts highlighting Trump's new 10% global import levy and ongoing geopolitical tensions as key forces. It's essentially the perfect storm for gold buyers—economic uncertainty meets trade war fears.
Beyond headlines, China's central bank extended its gold purchases for a fifteenth consecutive month in January, signaling institutional confidence in the metal's long-term value. Markets are currently pricing in at least two rate cuts this year, keeping expectations for easier monetary policy broadly supportive for bullion. When interest rates fall, non-yielding assets like gold become more attractive to investors hunting for returns.
The outlook stays bullish. In January, Goldman Sachs raised its year-end 2026 gold price target to $5,400 per ounce, up from a prior forecast of $4,900. J.P. Morgan expects prices to push toward $5,000/oz by the fourth quarter of 2026, with $6,000/oz a possibility longer term. These aren't casual guesses—major banks are backing gold with serious conviction.
The gold price forecast for the next week is bullish, with predictions suggesting the price of gold will increase by 0.95% in the next 7 days and reach $5,312.62 on March 6, 2026. Whether you're a seasoned investor or just watching the shiny metal's journey, gold's momentum shows no signs of stopping—at least not yet.