Haven Assets Keep On Shining. Some Experts Think Gold Prices Can Go to $6,000.

The conflict over Greenland has eased. Investors are still clinging to haven assets.

Spot gold prices are inching toward $5,000 even as U.S. stocks shrugged off escalating international tensions from earlier in the week. Other precious metals are also extending recent rallies: Silver topped $100 for the first time on Friday, while platinum prices rose above $2,700.

Investors appear to be hedging against the risk that some unexpected event could make U.S. assets less attractive—even without a clear crisis in sight. Whatever the case may be, strategists are calling for gold prices to go even higher, some looking beyond the $5,000 level they have yet to clear.

David Roche, a strategist at Quantum Strategy, earlier this week said haven assets will continue to shine as central banks show preference for holding gold over currencies, and a new world order is established in which the U.S. plays second fiddle. In an interview with CNBC on Thursday, Roche said gold could hit $6,000.

Citi commodities research strategist Kenny Hu recently raised his near-term price targets on gold to $5,000, and silver to $100—both of which have effectively proven out. He also said silver will continue to outpace gold.

“The multitude of bullish drivers are now likely to remain intact during 1Q’26,” he said.

And Goldman Sachs on Wednesday set a year-end gold target of $5,400, citing momentum driven by “private sector diversification buyers, whose purchases hedge global policy risks and have driven the upside surprise to our price forecast.”

The “sell America” trade appears alive and well at the moment, but it may not last. In his note last week, Hu said the firm expects “moderating geopolitical risks” to weigh on safe haven assets, particularly gold, later in the year.

One theoretical hedge hasn’t done much this week. That’s bitcoin, which is allegedly digital gold but hasn’t acted much like it lately.