Gold Price Soars to $4,670 as BofA Sees $5,000 by 2027

The gold price has reached $4,670 as Bank of America (BofA) predicts it will hit $5,000 by 2027.

BofA's commodity strategist Michael Widmer says that policy uncertainty and stronger investment demand are supporting the move towards a higher price. He notes that gold prices have averaged $4,360/oz YTD on a 7.3% YoY increase of investment demand.

The bank's forecast table shows a clear medium-term climb after the softer second-half 2026 assumptions, with a projection of $4,750 in Q1 2027, followed by $5,000 in Q2 and Q3, before easing back to $4,500 in Q4.

BofA's longer-term argument is less dependent on a perfectly dovish Fed, but relies on policy uncertainty, sustained official demand, and the possibility that investors increasingly use gold as protection against an unconventional US fiscal and monetary mix.