Why is gold really rising in 2026? This is a question many people are curious about. I see that the situation is not just a coincidence but a profound structural change in the global financial system.

Starting with foreign central banks, they have continued to be net buyers of gold for the 15th consecutive year. In 2026, it is expected they will purchase up to 755 tons. Although this is a decrease from the previous year, it remains well above historical averages. The main reason is emerging market countries like China, India, and Poland want to reduce their dependence on the US dollar to avoid risks of asset freezing, as happened with Russia.

Besides that, why is gold rising? The conflict over Greenland in early 2026 also helped push prices up rapidly. When the US issued an ultimatum regarding control of Greenland, gold prices surged past $5,600. This event created concerns over trade wars and military confrontations. Amid such uncertainty, gold has gained a continuously higher "risk premium."

In Thailand, the situation is even more complex. As gold bars approach 70,000 baht, the relationship between the baht exchange rate and gold prices becomes interesting. Earlier this year, the baht appreciated to 30.88 per dollar, the strongest in nearly five years. This was due to Thai investors selling gold to realize profits and converting dollars into baht. Gold trading accounts for 35% of all foreign exchange transactions in Thailand. Therefore, the Bank of Thailand has implemented measures such as setting daily trading limits of around 50-100 million baht and promoting trading in US dollars.

From a global financial institution perspective, Goldman Sachs targets $5,400. J.P. Morgan expects an average of $5,055, with potential to reach $6,000. Bank of America also shares the same target. This bullish outlook is based on the fact that gold accounts for only 2.8% of global assets. If investors shift even a small amount out of bonds, gold has significant growth potential.

Technically, the $5,000 level is a key psychological barrier. Staying above it suggests the next targets are $5,600 and $6,000. If prices pull back, strong support levels are at $4,680–$4,750, which could be good accumulation zones for long-term investors.

Regarding investment, is it still timely to buy now? The answer is yes, but not chasing the price. Because prices are at historic highs, a better strategy is to wait for a pullback. Physical gold has limitations in liquidity and storage costs. An alternative is trading CFDs through financial platforms, which require less capital, allow trading both up and down, and come with comprehensive analysis tools.

Overall, why is gold rising in 2026? The answer is that the world is searching for genuine risk hedging tools. Gold has proven itself as the most stable asset during times of great uncertainty. As global public debt continues to grow and geopolitical conflicts remain threats, gold will continue to be in demand by investors.