Cathie Wood Forecasts Gold Decline, Predicts Bitcoin Outperformance in 2026

Cathie Wood, chief investment officer at ARK Invest, has issued a bearish outlook on gold, predicting a significant correction in the precious metal’s price trajectory. She cites weakening demand from central banks, reduced inflationary pressures, and the rising appeal of digital assets as key drivers behind the anticipated decline. Wood forecasts XAU/USD to fall below $1,800 per ounce by June 2026, a drop of approximately 15% from current levels, marking a reversal from the bull market that pushed gold above $2,400 in 2024. The bearish stance on gold is paired with a strong bullish thesis on Bitcoin. Wood argues that BTC-USD is increasingly being adopted as a global reserve asset due to its scarcity, decentralization, and growing institutional acceptance. She projects Bitcoin’s market value could exceed $2 trillion by 2026, outperforming gold and traditional safe-haven assets. This shift is underpinned by the anticipated halving event in April 2024, which historically triggers supply constraints and demand surges. The implications extend beyond individual asset performance. With gold’s share of global reserves declining to 14.5% in 2025 (down from 16% a year prior), and Bitcoin gaining traction among sovereign wealth funds and major financial institutions, Wood’s forecast signals a structural repositioning in asset allocation. The GC=F futures contract has already shown increased volatility, with open interest rising 22% over the past month, reflecting investor hedging activity. Market participants across asset classes are adjusting strategies. Precious metals miners such as Newmont Corporation (NEM) and Barrick Gold (GOLD) have seen modest underperformance in the past 30 days, while Bitcoin ETFs have recorded inflows exceeding $1.3 billion in November 2025, indicating capital reallocation toward digital assets.