Gold Predicted to Reclaim $5,600 per Ounce by 2030, Bernstein Analyst Says

Wall Street analyst Bob Brackett of Bernstein has forecast that gold will reach $5,600 per ounce by 2030. This prediction is based on a bullish long-term outlook for the precious metal, despite lowering his previous target of $6,100.

The adjustment in the forecast comes as expectations for U.S. interest rates have shifted significantly, with markets now pricing in additional rate hikes instead of cuts previously anticipated. Bernstein notes that real interest rates have climbed to 2.7% from around 1.7% earlier this year, increasing the opportunity cost of holding non-yielding assets like gold.

The firm believes gold can continue appreciating alongside gradually rising real rates, citing its resilience over the past several years, including periods when tighter monetary policy would traditionally have pressured prices lower. Central bank buying is seen as a key structural catalyst supporting long-term prices, with many major reserve holders remaining underallocated to gold compared to historical standards.