FACTBOX-BofA hikes gold price forecast to $5,000/oz for 2026
Oct 13 (Reuters) - Bank of America Global Research on Monday raised its price forecasts for precious metals, lifting its 2026 outlook for gold to $5,000 an ounce, with an average of around $4,400.
Gold surged above $4,000 an ounce for the first time ever on October 8. Gold prices scaled to another record high at $4,079.62 on Monday as investors revved up their safe-haven bets after U.S. President Donald Trump renewed tariff threats against China, while expectations of U.S. interest rate cuts added to the metal's allure. GOL/
The bank sees the risk of a correction near-term, but still expects a further upside in 2026.
"Looking into 2026, a 14% increase of investment demand - similar to what we have seen this year - could lift gold to $5,000/oz," the bank noted.
Following is a list of analysts' latest forecasts for 2025 and 2026 gold prices (in $ per ounce):
Brokerage/Agency | Annual Price Forecasts | Price Targets | Forecast as of | |
| 2025 | 2026 |
| |
Bank of America | $3,352 | $4,438 | 2026 gold outlook raised to $5,000/oz | October 13, 2025 |
Goldman Sachs | $3,400 | $4,525 | $4,900 by December 2026 | October 7, 2025 |
Commerzbank* | $4,000 | - | $4,200 per troy ounce by the end of next year | October 7, 2025 |
HSBC | $3,355 | $3,950 | Raises 2027 average price forecast to $3,600/oz (from $2,925/oz) and introduces a 2028 forecast of $3,330/oz | October 3, 2025 |
Deutsche Bank | $3,291 | $4,000 | $4,300 by Q4-2026 | September 17, 2025 |
ANZ | $3,338 | $3,845 | - | September 10, 2025 |
UBS | - | - | $4,200/oz over the coming months | October 3, 2025 |
BofA | $3,356 | $3,750 | - | September 15, 2025 |
Citi Research | $3,400 | $3,250 | - | September 29, 2025 |
*end-of-period forecasts
Related Articles
UK August GDP: Economy & Assets—Set to Collapse?
TradingKey - The UK is scheduled to release its August GDP figures on 16 October, with the market widely anticipating a 0.1% month-on-month increase in real GDP (Figure 1). If this expectation is fulfilled, it will represent the UK economy’s third consecutive month of recovery, following two straigh
U.S. Banks Q3 Earnings Preview: Big 5 Banks See Double-Digit EPS Growth, Investment Banking Hits 4-Year High
TradingKey - The 2025 U.S. earnings season kicks off this week with results from major banks. Amid elevated investor sentiment and the Trump administration pushing for deregulation, analysts expect another strong quarter for the banking sector — driven by booming trading activity and a resurgence
U.S.–China Tariff Easing Sparks Crypto Rebound — Can Bitcoin Reclaim Its Peak?
The U.S. signals a softer stance on tariffs, helping Bitcoin reverse losses. Rate cut expectations may push BTC back toward $126,000.
FOMC October Meeting Minutes: How Should Investors Respond?
In the context of the U.S. government shutdown and a period of limited economic data, the Federal Reserve’s release of its latest monetary policy meeting minutes and officials’ statements on 8 October will be particularly significant.
Broadcom Q3 FY2025 Earnings Review: AI Surge and VMware Synergy Fuel Record Performance
TradingKey - Broadcom Inc. (NASDAQ: AVGO) delivered a strong fiscal Q3 2025, with results driven by AI networking strength and continued VMware integration. Revenue and EPS both topped expectations, reinforcing the company’s role as an essential player in the AI infrastructure buildout.
