Major Banks Predict Gold Prices to Soar to $5,000 Per Ounce

A series of major banks have recently released new forecasts for gold prices, and they're predicting an upward trend. According to UBS, gold could reach $5,000 per ounce in the first half of 2027.

Citigroup also believes that gold may benefit from instability related to monetary policy, public debt, and USD outlook. They put forward a scenario where gold prices could reach about $4,500 per ounce in Q4/2026 and potentially reach the $5,000 zone in the first half of 2027.

Goldman Sachs also forecasts that gold prices could reach around $4,900 per ounce by the end of 2026. Despite adjusting some expectations due to the interest rate policy outlook of the US Federal Reserve (Fed), Goldman Sachs still sees buying power from central banks and investment demand driving momentum for gold prices.

Other international banks such as Deutsche Bank and Bank of America also maintain a positive outlook on gold, predicting that it may head towards the $5,000 per ounce mark in the medium term. They attribute this to concerns about fiscal deficits, the strength of the USD, and the need to preserve assets continuing to boost cash flow into gold.

However, banks warn that gold prices may face short-term corrections due to factors such as the Fed's interest rate policy and investor profit-taking activities.