TABLE-Commerzbank raises 2026 year-end gold forecast to $4,900/oz
Jan 13 (Reuters) - Commerzbank raised its gold price forecast to $4,900 by the end of this year on Tuesday, citing increased safe-haven demand.
Gold prices XAU= this week hit a record high of $4,629.94, as geopolitical tensions and the U.S. administration's threats to the Federal Reserve chair have driven buying.
Citi had raised its base case zero to three-month target for gold to $5,000 an ounce on Monday.
Following is a list of analysts' latest gold price forecasts (in $ per ounce):
Brokerage/Agency | Annual Price Forecast | Price Targets | Forecast as of |
| 2026 |
|
|
Morgan Stanley | $4,400 | $4,500 by mid-2026 | October 31, 2025 |
Citi Research | $5,000 | Raises 0-3 month price target to $5,000 | January 13, 2026 |
JP Morgan | $4,753 | Expects prices reaching an average of $5,055/oz by 4Q26 | October 23, 2025 |
HSBC | $4,587 | $4,450 per ounce by year-end 2026 | January 8, 2026 |
ANZ | $4,445 | $4,400 by year-end and $4,600 by June 2026 | October 16, 2025 |
Bank of America | $4,438 | 2026 gold outlook raised to $5,000 | October 13, 2025 |
Societe Generale | $4,716 | $5,000 by the end of 2026 | October 13, 2025 |
Standard Chartered | $4,488 | - | October 13, 2025 |
Goldman Sachs | $4,525 | $4,900 by December 2026 | October 7, 2025 |
Commerzbank* | $4900 | $4,800 by mid-2026 | January 13, 2026 |
Deutsche Bank | $4,450 | Yearly range from $3,950-$4,950/oz in 2026 | November 26, 2025 |
UBS | $3,825 | Decline in real rates, potentially into negative territory, could push gold towards $4,700 | October 16, 2025 |
*end-of-period forecasts
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