Name: Gold prices to remain strong in 2026, supported by Fed cuts: Analyst
Uploaded: 2025-12-30T08:53:55.869Z
Duration: 4 min 1 s
Description: Mark Ferguson, Global Head of Metals and Mining Research at S&P Global Energy, says gold prices will remain supported by recent central bank activity and robust ETF inflows. He expects further Fed rate cuts in 2026, which would add support for gold as a non‑yielding asset.

Mark Ferguson, Global Head of Metals and Mining Research at S&P Global Energy, says gold prices will remain supported by recent central bank activity and robust ETF inflows. He expects further Fed rate cuts in 2026, which would add support for gold as a non‑yielding asset.

New York

An analyst has stated that gold prices are expected to remain strong through 2026, driven by continued central bank purchases, significant ETF inflows, and anticipated rate cuts by the Federal Reserve. The analyst highlighted that the U.S. labor market's weakness and expectations of further monetary easing are likely to support gold as a non-yielding asset.

Demand for gold is described as diverse, with central banks such as those in Poland and China actively increasing their reserves. While gold production has not seen major increases, recent price momentum may encourage higher output. The analyst also noted that, despite recent volatility, gold is likely to remain the preferred safe-haven asset, while silver's recent price correction was attributed to profit taking.

Gold prices to remain strong in 2026, supported by Fed cuts: Analyst

Yeah, absolutely. I think our view is that gold prices will remain strong, and certainly there's a lot of tailwinds to drive that price forward when you think about how much central bank activity has been in recent months, but also how much ETF inflows we've also seen and been recorded. So we're very bullish on the gold price, certainly in the next few months. Any layer over on top of that, the expectation is for further Fed rate cuts, we certainly see upside potential for the gold price. You said the upcoming Fed meeting is the main catalyst, but we're also expecting later today Fed minutes from the previous meeting. Just give us a sense of why that's the case, why you think that's so important. Well, I think the fact that the Fed has already started some rate cuts and that the labor market in the U.S. is showing signs of weakness will support further Fed rate cuts into 2026. I think markets are talking about two possible rate cuts next year, and so we anticipate that that will provide further support for gold as a non-yielding asset. So we are confident that the gold price should continue to gain some momentum, certainly in the first quarter or two of 2026. Where's this demand coming from? It really is quite diverse. Our most recent report really talked about some of the central banks such as Poland, but also others that have been diversifying their reserves for not just recent months, but certainly several years. China was certainly quite active in this space and has continued to be. And so from that respect, we are seeing the physical side of gold really driving that market. If I talk a little bit about the supply side, we have not seen tremendous gains in gold production, although with the recent price momentum we anticipate that will respond quite substantially. There was one of the comments that the experts made, which was about you will see the continued demand in gold going into next year, but it will be at a slower pace. Do you agree with that? And would you give us some more color on what that slower pace could look like? Well, certainly this year there's been a lot of volatility, whether it's been geopolitical, economic, trade. And so those were certainly key drivers behind the gold price rising so substantially throughout the course of the year. We anticipate markets will start to come to terms with some of that volatility. And as a result, we could see a little bit more of a steady state for the gold price. It certainly was volatile in the past 24 hours, no doubt, but we do anticipate that the upside potential, that trajectory will continue once we get past this little bit. Fascinating. Do you have a take on what just happened with silver though? 8% down, 7% down? Yeah, I mean, that's no surprise. I mean, when we think about where the price shot up to, that was record levels. And so some profit taking would not be surprising at all. I don't think many people would have expected the price to jump as high as it did the past couple of days. So a bit of a correction is no surprise at all. You know, when we think about the longer term ratio between gold and silver, yes, silver has some more industrial demand related factors that are playing into it. But it really is gold that tends to be the dominant reserve or investment tool that people turn to in times of the volatility that we've seen certainly the past few months.

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