After reading five major Wall Street institutional research reports, #黄金 Will gold continue to rise this year?

Last night, I went through all the research reports on gold from Goldman Sachs, JPMorgan Chase, Morgan Stanley, Bank of America, and UBS—these five top Wall Street institutions.
Then I discovered something very unusual:
👉 They surprisingly reached a consensus on one thing: gold will continue to rise.
You should know, these institutions usually love to contradict each other.
But this time, their outlooks are highly aligned, with only differences on "how aggressive" the rise will be.
Wall Street’s target prices for gold (not a joke)
Here are the numbers:

JPMorgan Chase (most aggressive)
Q4 2026: $5055

Long-term target: $5400–$6000

Goldman Sachs
End of 2026: $4900

Bank of America
Mid-term target: $5000

UBS
Mid-2026: $4500–$5000
Optimistic scenario: $5400

Morgan Stanley (most conservative)
Target price: $4800

Notice a detail:
👉 $5000 is no longer an extreme prediction but a “consensus range.”
Why is this time different—more about structural logic than emotion?
The logic of these institutions is actually very simple and highly consistent:
1️⃣ Rate cut cycle + weakening dollar
Historical patterns are clear:
Within 60 days of the Fed starting rate cuts, gold has historically risen about 6% on average.
Not just once, but across multiple cycles.
When real interest rates decline and the dollar softens,
the opportunity cost of non-yielding assets (gold) actually decreases.
2️⃣ A heavily underestimated data point: central banks “rebalancing”
This is the most noteworthy point among all the research reports:
👉 Since 1996, gold has surpassed US Treasuries for the first time to become the largest reserve asset among central banks worldwide.
This is not speculation; it’s a choice at the monetary system level.
You can understand it this way:

US Treasuries: credit assets, reliant on political and fiscal discipline

Gold: sovereign, no default risk, no counterparty risk

As more countries choose gold,
it essentially says:
“We no longer want to completely rely on the dollar system for our destiny.”
This is a structural change, not just a market trend.
And what about risks? The institutions also mention them clearly:
Research reports are not all optimistic; risks are also well outlined:

Sudden hawkish shift by the Fed

Unexpected sharp strengthening of the dollar

Central banks around the world slowing gold purchases temporarily

All these could trigger a correction.
Interestingly, all five institutions are highly consistent on this point:
👉 Corrections are not trend reversals but window opportunities for reallocation.
A practical question: how do crypto people allocate to gold?
Many in the crypto space are not against gold per se,
but find the operational costs too high:

Opening traditional brokerage accounts

Currency exchange

Cross-platform management

These are very unfriendly for those only using USDT.
But now, using stablecoins to allocate to gold is no longer difficult.
For those wanting macro hedging outside the crypto system,
it’s definitely worth seriously exploring this approach.
Finally, my personal view:
When five top Wall Street institutions,
in the same asset and time window,
give highly overlapping long-term target ranges,
it’s rarely just emotion,
but a sign they see an irreversible structural change.
They are calling for gold.
But the underlying logic is actually:
fiat currency credibility is being diluted,
geopolitical tensions are reshaping the order,
assets are searching for an “ultimate anchor.”
A gold price reaching 5000,
may not be a story of overnight wealth,
but very likely the price answer this era is giving.
Would you include gold in your long-term portfolio?