It’s the precious metals surge everyone has been talking about for weeks: The price of gold is reaching historic highs, as Kitco has listed the per-ounce price at $5,750 (CAD), as of November 10, an increase of 25% compared to four months ago.
Recently, a disappointing US labour market has led to expectations of US rate cuts, supporting gold prices.
But what about the outlook on the gold price in 2026?
We spoke to an expert on precious metals to learn more about what you can expect in the coming months and what you should do about this financial opportunity.
The more uncertainty rippling across the world, the higher the price of gold will climb, says Max Smirnov, CEO of Global Bullion Suppliers. “With the international conflicts still ongoing, and the tariffs raising economic volatility, we may be tipping into a recession here in North America, and that’s why I’m bullish on gold,” Smirnov says.
Adding to that economic uncertainty is what he considers a bubble about to burst. “What we’re seeing with AI is similar to what we saw with the dot-com bubble from the early 2000s, and only the cream rose to the top,” he says, “people are hedging their wealth by buying gold and silver.”
Gold’s autumn rally is further strengthened by the fact that central banks themselves are investing in gold. “many countries, from BRICS to the Middle East, may be looking to bring back the gold standard, and there’s a real tug of war here for the world’s currency, and that creates a perfect storm for gold,” notes Smirnov.
Despite these record prices for gold, people are buying more bullion than they have before, while others are seeing a pot of treasure at the end of the rainbow as they rush to brick-and-mortar stores such as Muzeum Gold & Silver to sell their gold at these record values.
Another unusual wrinkle in this gold rally is how stocks aren’t dropping steeply, as they did in the ‘70s. Then, when the price of gold skyrocketed by 600% between 1970 and 1979, the S&P plummeted by 11% but that decrease didn't happen when the surge took place in October.
Well-known investors are also betting on this safe haven asset and further giving confidence to those who may be skeptical about protecting their wealth with gold. Ray Dalio, the founder of Bridgewater Associates, said at a conference in October that gold is a smarter bet than the U.S. dollar and recommended that investors allocate up to 15% of their portfolios to gold.
Smirnov also points out that a weaker US dollar will correlate with a higher gold price. Consumer sentiment has slumped to its lowest level in over three years due to the recent government shutdown and inflation anxiety, which could also lead to further gains in the price of gold in December and January, depending on the state of those two factors.
Should you buy or sell gold? Both..?
As the price of gold reaches unprecedented heights, you might be wondering if it’s time to buy or sell your gold, or do nothing. In fact, precious metals experts such as Smirnov recommend both buying and selling gold, depending on your goals!
He’s been seeing a rush of Torontonians flocking to stores such as Muzeum Gold & Silver to sell their gold items to capitalize on the surging price. “They are getting a record amount of returns for their investment,” he adds.
In the same breath, he shares how valuable it could be to buy bullion in Toronto right now in order to shore up and protect your wealth as a hedge against inflation as well as market uncertainty. This opportunity isn’t just happening in Toronto; the Guardian reported on thousands of Australians lining up to buy gold bullion, sometimes waiting for hours. Early investors have seen their decision paying off, as the Guardian reports on one woman who bought $78,000 AUS in gold in April and is now enjoying a return of $112,000 AUS.
While it’s not an exact science to predict where the gold price is heading, it’s clear now is the time to act and you should take advantage of a rare occasion to buy or sell gold if you want to diversify—and hopefully enrich—your portfolio.
If you’re interested in the bullion markets or you’d like to learn more about managing your wealth with an investment in precious metals, contact us anytime at for a free consultation 1-800-427-4045 or support@globalbullionsuppliers.com.