Gold Prices Surge to Record Levels in Early 2026
Berlin, 11 January 2026 – Gold prices have continued their upward trajectory into 2026, driven by economic uncertainty, a weakening US dollar, and robust demand from central banks and investors. As of 11 January, spot gold is trading at approximately €3,874 per troy ounce, with prices per gram ranging from €91 to €125 depending on purity and location in Germany.
Economic Drivers Behind the Rally
Gold has been a safe-haven asset amid geopolitical tensions, including ongoing conflicts and trade policy uncertainties. Central banks, particularly in emerging markets, have increased gold purchases to diversify reserves away from the US dollar. Inflation concerns and expectations of lower interest rates have also boosted demand, as gold offers protection against currency devaluation.
Key Facts and Current Prices
| Metric | Value |
|---|---|
| Spot Gold Price (EUR per Troy Ounce) | €3,874.76 |
| Gold Price per Gram (24K, EUR) | €124.58 |
| Gold Price per Gram (22K, EUR) | €114.21 |
| Year-to-Date Change (2026) | +5.06% |
| Forecast for 2026 Average (EUR per Ounce) | €4,000–€5,000 |
Forecasts and Outlook
Analysts predict further gains, with Goldman Sachs forecasting €3,700 per ounce by year-end 2025 (historical), and J.P. Morgan projecting €5,000 by end-2026. Factors include continued central bank buying, potential US dollar weakness, and inflation hedges. However, risks such as demand destruction from high prices or a stronger dollar could lead to pullbacks.
Frequently Asked Questions
What is the current gold price in Germany?
As of 11 January 2026, the spot gold price is around €3,874 per troy ounce, or €124.58 per gram for 24K gold. Prices vary by purity and retailer.
Why are gold prices rising?
Rising prices are due to economic uncertainty, geopolitical risks, central bank demand, and a weaker US dollar. Gold serves as an inflation hedge and safe-haven asset.
What is the forecast for gold in 2026?
Experts like J.P. Morgan and Goldman Sachs expect prices to average €4,000–€5,000 per ounce, potentially reaching €5,400 by 2027, driven by structural demand shifts.