Gold Price Soars to $4,628 per Ounce as Banks Raise Targets

Gold prices have rebounded sharply over the past month, reaching $4,628 per ounce on August 26. This surge has prompted several financial institutions and banks to revise their gold price predictions for the end of 2026.

Natixis' precious metals analyst Bernard Dahdah believes that gold prices are back on track towards $5,000 an ounce after months of correction. He attributes this rally to weaker economic data and market reassessments of interest-rate expectations.

Citigroup has also raised its zero-to-three-month gold price target to $4,800 an ounce, while Morgan Stanley expects gold prices to rise above $5,000 an ounce in 2027.