"Gold bull market not over yet…Possibility of exceeding $5,000 per ounce next year"

China International Capital Corporation (CICC) analyzed in its 2026 outlook report that the current gold (Gold) bull market is likely still ongoing from a historical perspective.

On the 17th (local time), according to O'Daily, the CICC report said, "The magnitude and duration of the current rise in gold prices are lower than those seen in major bull markets of the 1970s and 2000s," adding, "Considering macroeconomic uncertainty, the prolonged restructuring of global reserve composition, and the possibility of a weak dollar cycle, it is judged that the gold bull market has not yet ended."

CICC forecasted that the medium-term uptrend in gold would be maintained unless the Federal Reserve (Fed) fully ends its easing policy or the U.S. economy re-enters a strong expansion phase of 'slowing inflation + growth recovery.' It also added, "If the current trend continues, the possibility of gold prices exceeding $5,000 per ounce next year cannot be ruled out."

However, the report pointed out that gold is currently among the most overvalued of various assets and that there is a risk of increased volatility. Accordingly, it recommended a long-term holding strategy using buy-the-dip purchases and a dollar-cost averaging strategy (DCA) rather than chasing peaks.