Gold prices are surging hard for real in 2026: the price has hit $5,600 per ounce, and in Thailand it has already broken through 70,000 Baht. But the key question is why gold prices are rising— and whether they will continue to rise.

The main reason gold is surging is that central banks around the world have become consistent net buyers for the 15th year in a row. From China, India, Poland to Brazil, they are distributing and diversifying reserves away from the U.S. dollar to hedge risks. In 2026, gold purchases are expected to be around 755 tons, which is still higher than the average over the past ten years.

Another important factor is a geopolitical crisis. The Greenland dispute sparking friction between the U.S. and Europe has made investors panic. Why are gold prices rising? It’s because of this uncertainty—when the world is full of risks, gold becomes the best safe haven.

In Thailand, why gold prices rise is also related to the exchange rate of the baht. When gold bars surged, Thai investors sold to take profits, then exchanged foreign currency back into baht, causing the baht to strengthen to 30.88 baht per dollar—its strongest level in nearly 5 years. Gold transactions account for 35% of all foreign exchange trading in Thailand, and this type of activity significantly affects the currency.

Because of these concerns, the Bank of Thailand has issued new measures, such as reporting large transactions (over 20 million baht) and proposing to set daily trading ceilings. The Bank of Thailand also supports more gold trading in dollars through online systems to reduce pressure on the currency.

From the perspective of financial institutions, Goldman Sachs has set a target at $5,400. J.P. Morgan expects an average of $5,055, with a possibility of reaching $5,400 in 2027. Bank of America looks even further, pointing out that gold prices are rising because U.S. public debt has been increasing—therefore, their target is $6,000.

But there are also voices of caution. HSBC sets the average for 2026 at $3,950, and Citi at $3,250. They believe that tensions may ease and the U.S. dollar could strengthen again. However, considering the current situation, the view from the bullish side seems more credible.

For technical analysis, the $5,000 level is an important psychological barrier. If price can hold above this level, the next targets are $5,600 and $6,000. Strong support is at $4,680–$4,750, which is a good area for entering positions.

The final question is: is it still in time to buy now? The answer is yes, but you need to wait for the price to pull back. With prices already at historically high levels, volatility comes with it as well. The RSI often moves into overbought territory as it approaches $5,000, so waiting for the price to adjust downward is a smarter strategy.

In summary, why gold prices are rising is not a coincidence. It reflects the demand from central banks trying to move away from the dollar, political uncertainty, and a global debt burden that continues to grow. Gold has become the most valuable asset in difficult times—and still has the potential to keep moving forward.