Gold.com (NYSE:GOLD) shares surged 17% on Tuesday following bullish commentary from DA Davidson analyst Michael Baker and broad gains in bullion and silver prices. The move reflects investor attention to recent precious metals strength and growing uncertainty in macroeconomic conditions.
In a client note, Baker raised his price target for Gold.com to $53.00, up from $45.00, while maintaining a Buy recommendation. The analyst attributed the revision to the continued advance in spot prices for both gold and silver and to a rise in market volatility.
Baker highlighted that the firm’s proprietary weekly checks of retail pricing versus spot show widening spreads. Those checks compare retail listings across e-commerce sites to spot metal prices and have, in his view, correlated with the increase in volatility. Alongside pricing dynamics, he pointed to data from Google Trends that he interprets as evidence of increasing unit demand as prices climb.
"This all sets up for a potential beat when GOLD reports 2Q26 (Dec. '25), with accelerating trends for the March quarter," Baker wrote in his note to clients. That assessment underpinned his decision to raise estimates for the next two reporting periods. The new $53 target is framed using a multiple of 8 times his calendar 2027 EBITDA estimate.
The stock’s appreciation came as investors renewed interest in precious metals amid ongoing economic uncertainty and inflation concerns. These macro drivers have contributed to inflows and trading activity in the sector, supporting higher spot prices that analysts cite when updating company outlooks.
From a market-structure perspective, Baker’s emphasis on widening retail-to-spot spreads and weekly price checks underscores the intersection of e-commerce retail pricing and raw commodity moves for companies that retail physical metals or related products. His reliance on Google Trends to signal unit demand highlights how digital demand indicators are being used alongside traditional price metrics.
Investors will likely watch upcoming quarterly results closely, given the analyst’s suggestion of a potential beat for 2Q26 (Dec. '25) and acceleration into the March quarter. Absent further changes to spot prices, spreads, or consumer interest measures, the revised estimates and target reflect Baker’s current view anchored to those inputs.