Gold Predicted to Hit $5,000/oz by H1 2027: ICICI Bank
Gold prices may rise to $5,000 per ounce in the first half of 2027, according to ICICI Bank's research report. The bank expects gold to trade in the $4,200-$4,600 range for the rest of 2026, with a marginal upside bias in the first half of 2027.
The report cites elevated US real yields and a stronger dollar as factors that could ease and lead to higher gold prices. Investment demand, central bank purchases, and demand for gold as a hedge against uncertainty are also expected to support medium-term outlook.
Gold has corrected sharply in September after gaining around 9 per cent in August, with prices down nearly 8 per cent so far this month. ICICI Bank attributes the correction to a more hawkish repricing of US monetary policy amid persistent inflation concerns and higher oil prices.