Markets
October 28, 2026
US Debt Climbs to $40.52T, Surpassing Annual GDP by $9.7T
- Gold demand remains supported by continued Gold ETF inflows, even as gold prices have recently weakened
- The World Bank metals forecast projects a 25% rise in metals and minerals prices and a 40% increase in precious metals prices in 2026
- The gold price outlook remains uncertain, as ETF buying may support demand while short-term market conditions continue to influence prices
Gold demand is showing an interesting trend, the one that has once again hooked the markets. The trend shows investors putting their capital in gold ETFs even as gold prices continue to fall. In the middle of this, the World Bank has come up with a new prediction, a metals forecast, that says metals and mineral prices may hit record levels in 2026, driven by supply disruptions and demand from industries. What is this development all about?
Also Read: OSMO Jumps 19% as Osmosis Stops Issuing New Tokens, Can It Catch UNI?
World Bank Expects Minerals and Metals to Rally Soon
The World Bank’s October 2026 Commodity Market Outlook report predicts a bullish metals forecast. The report adds that prices of minerals and metals may rise around 25% this year, hitting a new record.
Copper, aluminum, and tin may hit new price levels as well, per the report. Moreover, the primary reasons contributing to this rally have been attributed to supply disruptions and demand linked to the energy transition and data centers. The report later adds that the Bank expects metal prices to ease by 3% in 2027.
“Metals prices are set to reach a new high in 2026, rising 25%. As prices of aluminum, copper, and tin all hit record highs. These gains reflect strong demand from investments in renewable energy, electric vehicles, and data centers, together with supply disruptions this year. Prices are expected to decline by 3% in 2027.”
The outlook for precious metals is also gaining momentum. The World Bank’s metals forecast stands at 40% for 2026.
“Precious metals prices are forecast to increase by 40% in 2026 as demand for safe-haven assets remains elevated amid geopolitical and policy uncertainty. They are expected to moderate somewhat in 2027 but remain more than three times their 2015–19 average.”
The report backs the classic safe-haven analogy for its prediction, stating how investors may continue to choose precious metals amid geopolitical uncertainty.
Also Read: US Debt Climbs to $40.52T, Surpassing Annual GDP by $9.7T
Gold ETF Inflows Continue Despite Weak Prices
At the same time, the gap between gold demand and gold price is drawing significant attention. According to figures shared by Global Markets Investor on October 26, physical-gold-backed ETFs tracked by Bloomberg recorded 14 weeks of consecutive inflows, taking holdings to nearly 102M troy ounces, their highest level since mid-2022.
Despite this, gold prices fell 1% over the same period after an earlier rally.
“Physical-gold-backed ETFs tracked by Bloomberg have recorded 14 consecutive WEEKS of inflows. $GLD. This has brought gold ETF holdings to nearly 102 million troy ounces, their highest level since mid-2022. However, over the same period, gold prices have declined -1%, after rising as much as +16% before falling -14% from their local highs. $GLDM. Long-term gold investors appear to be taking advantage of this accumulation opportunity to hedge against fiscal uncertainty, geopolitical tensions, and the constant erosion of currency purchasing power. At the same time, short-term gold price movements reflect interest-rate expectations shaped by oil prices and FX movements, as well as technical factors. Smart money is accumulating gold at a historic pace.”
This trend reflects how investors continue to put their faith in gold even when gold prices are weakening.
Gold Price Stance For The Future
Per market commentator Rashad Hajiyev, gold price may be getting ready for a reversal, as its price chart depicts the metal carving a bottom, which it seems to be recovering from.
“I think gold is carving a bottom, having corrected 30% from its January 2026 highs. Once the double bottom is complete. I expect a sharp rally to $5k plus where gold is going to spend a considerable amount of time before continuing higher…”
Hajiyev believes the metal may soon rally above $5K, with the potential for further gains afterward.
Also Read: Google Targets Bank Crypto Security Ahead of Alphabet Earnings
