Will Gold Prices Reach $5,000?

Are gold prices heading to $5,000+?

Global gold ETF holdings are up to ~100 million ounces, near their highest level in at least 9 months.

Gold holdings have risen over +4 million ounces since their July low, more than recovering the decline recorded between April and July.… pic.twitter.com/VeQA4iOxl2

— The Kobeissi Letter (@KobeissiLetter) September 20, 2026