Goldman Sachs polled institutional investors on gold, and found many expect it to hit $5K next year

Goldman Sachs survey shows many investor think the precious metal will hit a new all-time high of $5,000 by the end of 2026.

Gold prices have rallied 58.6% year-to-date, and broke through the landmark $4,000 level for the first time on Oct. 8.

In a survey of more than 900 institutional investor clients on Goldman Sachs’ Marquee platform, 36% of respondents — the largest cohort — expect gold to maintain its momentum and exceed $5,000 per troy ounce by the end of next year.

A further 33% expect the commodity to reach between $4,500 and $5,000, according to the poll, which was conducted between Nov. 12-14.

More than 70% of institutional investors see gold rising next year, Goldman Sachs said. In contrast, just over 5% of those polled see prices pulling back to between $3,500 and $4,000 over the next 12 months.

Gold prices advanced to a two-week high on Friday, boosted by hopes of a Federal Reserve rate cut, with spot prices rising 0.45% to $4,175.50. Gold futures

 were trading up 0.53% at $4,187.40.