Gold prices have surged as expectations around U.S. Federal Reserve monetary policy shift and central banks accelerate their gold purchases. According to the Wall Street Journal, central banks purchased a record 289 tonnes of gold in the second quarter of 2026, reinforcing the metal’s appeal amidst economic uncertainty. The prospect of easier monetary policy reduces the opportunity cost of holding non-yielding assets like gold, supporting higher prices. Markets now see a moderate increase in the probability of gold reaching $15,000 by December 2026, with Fed interest rate decisions and major central bank purchases remaining key drivers.
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