Experts Predict Gold to Hit 5013 an Ounce Within a Year

Gold has experienced significant volatility in 2026, with prices slipping by 3% due to expectations of prolonged high interest rates amid the Iran war. Despite this downturn, the precious metal saw a remarkable 64% surge in 2025, marking its largest annual rise since 1979, and reached a record high of $5,595 an ounce in January. On Tuesday, gold prices rebounded, supported by a pause in the US Treasury yield rally and a weaker dollar, as investors awaited insights from the Federal Reserve's September meeting. Spot gold rose 0.7% to $4,168.33 per ounce, while US gold futures for December delivery settled 0.7% higher at $4,187.10.

At the London Bullion Market Association's (LBMA) annual gathering in Sorrento, Italy, delegates predicted that gold prices would hit $5,013 an ounce over the next 12 months, up from the current level of $4,170. A year ago, the same conference expected gold to reach around $4,980 by now. The LBMA poll also forecasted that silver prices would jump to $97 per ounce in a year's time, from around $61 on Tuesday. Silver has fallen 14% so far this year, following a 147% rally in 2025.

The poll further predicted that platinum prices would increase to $1,914 an ounce from the current $1,706, while palladium would rise to $1,415 from around $1,174. Platinum and palladium have declined 17% and 28%, respectively, this year. Meanwhile, Brent crude settled slightly higher at about $100.6 a barrel, and US West Texas Intermediate (WTI) crude rose 1 cent to settle at $89.44.

The dollar weakened broadly against most major currencies, reversing some recent gains as investors reduced bets on US interest rate hikes following a soft jobs report. The dollar index fell 0.3%, after rising 3% over the past month. Long-dated US Treasury yields also eased after touching fresh 24-year highs, with the 10-year yield falling 2.7 bps to 5.28% and the 30-year yield dipping 0.5 bps to 5.65%.