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    Home > Finance > Factbox-What major banks forecast as gold breaches $4,000/oz level
    Finance

    Factbox-What major banks forecast as gold breaches $4,000/oz level

    Published by Global Banking & Finance Review®

    Posted on April 3, 2025

    2 min read

    Last updated: January 24, 2026

    Factbox-What major banks forecast as gold breaches $4,000/oz level - Finance news and analysis from Global Banking & Finance Review
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    Quick Summary

    Gold prices have surged past $4,000/oz, with major banks like Goldman Sachs forecasting further increases due to economic uncertainties and central bank buying.

    Gold Price Forecasts: Banks Predict Surpassing $4,000/oz

    (Reuters) -Gold surged past $4,000 an ounce for the first time on Wednesday as investors sought the safe-haven asset amid global economic and geopolitical uncertainties, while potential U.S. interest rate cuts further boosted the rally. [GOL/]

    Goldman Sachs raised its December 2026 gold price forecast on Monday by $600 to $4,900 per ounce, citing strong Western exchange-traded fund (ETF) inflows and likely central bank buying.

    Following is a list of analysts' latest forecasts for 2025 and 2026 gold prices (in $ per ounce):

    Brokerage/Age Annual Price Forecasts Price Targets  Forecast

    ncy as of

      2025 2026  

    Goldman $3,400 $4,525 $4,900 by October

    Sachs  December 2026 7, 2025

    Commerzbank* $4,000 $4,200 per October

    troy ounce by 7, 2025

    the end of

    next year

    HSBC $3,355 $3,950 Raises 2027 October

    average price 3, 2025

    forecast to

    $3,600/oz

    (from

    $2,925/oz) and

    introduces a

    2028 forecast

    of $3,330/oz

    Deutsche Bank $3,291 $4,000 $4,300 by September

    Q4-2026 17, 2025

    ANZ $3,338 $3,845 - September

    10, 2025

    UBS - - $4,200/oz over October

    the 3, 2025

    coming months

    BofA $3,356 $3,750 - September

    15, 2025

    Citi Research $3,400 $3,250 - September

    29, 2025

    *end-of-period forecasts

    (Reporting by Anmol Choubey in BengaluruEditing by Mark Potter)

    Key Takeaways

    • •Gold prices exceed $4,000/oz for the first time.
    • •Goldman Sachs forecasts gold at $4,900/oz by December 2026.
    • •Commerzbank predicts $4,200/oz by the end of 2025.
    • •HSBC raises 2027 average gold price forecast to $3,600/oz.
    • •Central bank buying and ETF inflows boost gold prices.

    Frequently Asked Questions about Factbox-What major banks forecast as gold breaches $4,000/oz level

    1What is the main topic?

    The article discusses major banks' forecasts for gold prices as they surpass $4,000/oz amid global uncertainties.

    2What are the gold price predictions for 2026?

    Goldman Sachs predicts $4,900/oz, while Commerzbank forecasts $4,200/oz by the end of 2025.

    3Why are gold prices rising?

    Gold prices are rising due to economic uncertainties, potential U.S. interest rate cuts, and increased central bank buying.

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