For decades, gold followed a familiar rhythm. Prices rose when fear spiked, fell when calm returned. When gold rallied too far, supply or selling pressure would bring it back down. That framework is now breaking. According to a Goldman Sachs report released Thursday, gold has entered a new phase. Private-sector buyers — not just central banks — are becoming a structural force in price formation. For that reason, the investment bank lifted its December 2026 gold forecast from $4,900 to$5,400 an ounce. ...