ANZ forecasts gold prices to hit $4,400 per ounce by year-end

Oct 16 (Reuters) - ANZ on Thursday forecasts gold prices to surge to $4,400 per ounce by year-end, with a peak near $4,600 by June 2026, before a potential decline in the second half as the U.S. Federal Reserve concludes its easing cycle.

"Mounting concerns around the Fed's independence, political uncertainty, trade tariffs, geopolitical tensions, and ballooning debts will continue to keep strategic investment interest strong for gold," ANZ said.

The bank also projects silver to reach $57.50 per ounce by mid-2026. However, ANZ cautions that a hawkish Fed stance and stronger-than-expected U.S. economic growth could pose downside risks.