Gold could spend most of 2026 trading within a relatively narrow band unless the global economic environment deteriorates significantly, according to the World Gold Council’s annual outlook. After an extraordinary run in 2025—when the metal repeatedly hit record levels and delivered returns of more than 60%—the Council believes the coming year may lack the same one-way momentum. Advertisement

The report notes that the current price reflects broadly accepted expectations for economic growth, inflation patterns, and the trajectory of global interest rates. With markets anticipating steady worldwide expansion of around 2.7–2.8% and further rate cuts from the US Federal Reserve, the Council says gold could stabilise rather than surge if these assumptions hold. A mildly stronger dollar, alrea

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