LBMA Survey: Gold Price Forecasts Soar to $7,150 as Analysts Divided

The London Bullion Market Association's (LBMA) July survey of 16 professional analysts shows that the market's average forecast for spot gold prices at the end of 2026 is near $4,500 per ounce, representing a 12% upside from current levels.

This year's forecast range of $3,700 is strikingly wide, with analyst views sharply divided. The most bullish call comes from Julia Du, commodities strategist at ICBC Standard Bank, who expects gold to peak at $7,150 per ounce this year and believes the $4,100 area will form important support.

On the other hand, Robin Bhar, founder of metals consultancy Robin Bhar Metals Consulting, is the most bearish analyst in this survey. He expects gold to average around $4,000 per ounce this year and sees $3,500 as support.

UBS advises clients to view any pullback below $4,000 as a position-building opportunity, citing three structural factors, falling real interest rates, a weaker dollar, and central bank gold purchases, as long-term supports for gold prices.