Behind gold's rise in 2026 there are several factors the market is closely watching. One of the most cited is record central bank gold buying: around 244 tonnes in Q1 2026 and 289 tonnes in Q2 2026, according to IG.

On top of that there's a geopolitical risk premium tied to the Strait of Hormuz crisis, which began in late February 2026, and shifting US interest rate expectations throughout the year.

A weaker dollar also tends to be associated with stronger gold, since the metal trades in dollars globally.

None of these factors alone guarantees where the price will move — they're pieces of context, not a prediction.

This article is for informational purposes only and does not constitute financial advice or an investment recommendation.

Sources: https://www.ig.com/uk/trading-strategies/gold-price-forecast-2026–how-fed-rate-cut-bets-are-moving-xau-u-260817