Gold Prices Forecast to Hit $4,700 by Late 2026

Monarch PMS has released its latest outlook for gold prices, forecasting that they will range between $4,300 and $4,700 per ounce by late 2026. The firm bases this projection on steady central bank buying, with an expectation that global central banks will continue to accumulate approximately 250 tonnes of gold per quarter.

This forecast is supported by the fact that current spot gold prices are already trading near $4,600 to $4,700 per ounce as of late August 2026. This means much of the anticipated growth may be reflected in the current market value.

The outlook for gold remains sensitive to future monetary policy, with a key risk being potential Federal Reserve interest rate hikes. Higher interest rates typically make gold less attractive compared to interest-bearing assets like bonds.