Investors predict new record price for gold within two years - Financial Times

A Financial Times survey of investors points to expectations that gold could set a new record price within two years. The signal matters less as a forecast than as a snapshot of sentiment: when a broad group of market participants expects fresh highs, it often reflects concerns about inflation, currency weakness, or geopolitical risk rather than a purely bullish view on the metal itself.

Gold occupies a distinct role in portfolios. It pays no yield, so its appeal tends to rise when real interest rates fall or when investors want an asset that is not tied to any single government's credit. Central-bank buying and retail demand for coins and bars have also shaped the market in recent years.

What to watch is whether those expectations are confirmed by the drivers that have historically supported gold: rate policy, the direction of the dollar, and demand from official reserves. Sentiment alone does not move prices indefinitely.