Scaling a new record high, gold prices soared on Thursday after U.S. investment and financial services company Goldman Sachs raised its end-2026 target to $5,400 an ounce, while U.S. President Donald Trump's easing of his stance on Greenland limited the gains.
Front Month Comex Gold for January delivery surged by $77.00 (or 1.59%) to $4,908.80 per troy ounce.
Notably, this is a new record high for gold prices, which have increased for three consecutive sessions.
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Market Analysis
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.