What will happen to gold prices if inflation stays elevated through 2026? Here's what experts say.

MoneyWatch: Managing Your Money What will happen to gold prices if inflation stays elevated through 2026? Here's what experts say. We may receive commissions from some links to products on this page. Promotions are subject to availability and retailer terms. .chip { background-image: url('/fly/bundles/cbsnewscore/images/chip-bgd/chip-bgd-moneywatch.jpg'); } By Aly J Yale Aly J Yale Aly J. Yale is a contributing writer for the Managing Your Money section for CBSNews.com, covering various personal finance topics, including investing, homebuying, loans and more. Read Full Bio Aly J Yale June 11, 2026 / 7:00 AM EDT / CBS News Add CBS News on Google Rising inflation could have an impact on the price of gold. J Studios/Getty Images The price of gold broke numerous records multiple times in 2025, but since the end of last year, things have been more volatile. While the precious metal did set a new price record back in January, the rest of the year has been a rollercoaster of ups and downs, and prices ranged from $4,300 per ounce to $5,500 (and everything in between).There are a lot of factors contributing to the volatility. Rising gas prices from the war in Iran have sapped potential investment money from American pocketbooks. Still-high interest rates are drawing some investors into products with better returns. And inflation is on the rise, too, now sitting at its highest point in more than three years, according to data released Wednesday.Though inflation does mean Americans have less buying power these days, it can also be a boon for gold prices, offering a tool to safeguard wealth while the value of the U.S. dollar declines. As Hiren Chandaria, managing director at digital gold platform Monetary Metals, explains, "Gold has preserved purchasing power over very long periods of time. It has long been viewed as a hedge against inflation."The question is whether that high inflation is enough to send gold prices back upward again — and if so, how high can they go? We...