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)
