Gold is having a moment. Not the kind of moment that makes headlines for a single dramatic day—but rather the kind of slow-burning, structural shift that fundamentally rewires how major financial institutions think about reserves, diversification, and protection against an uncertain world.
As spot gold hovers around $4,400 per ounce, major banks including Goldman Sachs and J.P. Morgan are projecting prices could climb to $4,900 by the end of 2026. Behind this bullish outlook lies a phenomenon that rarely captures public attention but has profound implications: central banks around the world are hoarding gold at levels not seen in decades.
