Gold Forecast 2026 | Analysts See Prices Up to $5,400 per Ounce
Gold had quite the year in 2025 — a 64% rally that left even seasoned analysts scrambling to update their models. Now, with prices hovering near record highs, the question on everyone’s mind: is there more fuel in the tank?
According to a fresh Financial Times survey, the answer is yes. The average forecast from 11 analysts points to $4,610 per troy ounce by year-end — roughly a 7% move from current levels. The most bullish projections reach as high as $5,400.
🏦 Central banks keep stacking
Central bank buying remains a powerful tailwind. JPMorgan expects purchases of around 755 tonnes this year — institutions worldwide continue diversifying away from traditional reserves, and gold remains their favorite alternative.
🛡️Gold as a long-term hedge
With a softer dollar, gold’s role as a store of value looks firmly back in focus. Goldman Sachs notes that investor allocations to gold are still relatively low, meaning there’s significant room for additional flows into the metal.
