Goldman Sachs has made its strongest conviction call for 2026 - and gold is firmly at the top. The global investment bank sees gold rising to $4,900 per ounce by December 2026, driven by relentless central bank buying of nearly 70 tonnes every month. With Western debt surging and trust in fiat assets weakening, gold remains the preferred hedge for global reserves. While Goldman warns of oil oversupply with Brent averaging $56 a barrel, market experts differ, citing geopolitical risks and tightening long-term supply. Copper is expected to consolidate near $11,400 per tonne, while battery metals like lithium and nickel face pressure from Chinese supply. For investors who missed gold’s 2025 surge, the message is clear — the gold story may be far from over.