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 |
Societe Generale | $5000/OZ by the end of 2026 | October 13, 2025 | ||
Standard Chartered | $4,488 | 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
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