Market analysts at several major banks have raised their gold price forecasts to $6,000 per ounce, following the bullion’s recent surge above yet another all-time high of $5,100 per ounce.
In its latest forecast, Deutsche Bank sees gold climbing to $6,000 per ounce in 2026, and in its alternative scenarios, the price could even reach $6,900 per ounce, "in line with the past two years' outperformance."
Bank of America has also raised its near-term gold target to $6,000 per ounce, which could be reached as early as spring. This would put the gold price over 20% above the precious metal’s current all-time high levels. The bank’s 2026 outlook is based on its projections of falling supply and rising costs in the gold sector.
Analysts at Societe Generale anticipate gold will reach $6,000 per ounce by the end of this year, though they caution this forecast may be conservative.
Upside risks for the gold market in 2026 include persistent geopolitical tensions and the U.S. monetary policy, as the Fed easing cycle makes yield-bearing assets less lucrative, support prices for gold and other safe-haven assets.
Gold prices have climbed more than 17% so far in 2026, building on gains of 64% last year, buoyed also by robust central bank purchases, inflows into exchange-traded funds and expectations of US interest rate cuts.
Theodor Lisovoy, Managing Editor, Rough&Polished
