Major Banks Predict Gold Prices Will Surge Past $5,000

Global markets saw spot gold close the week at $4,342, marking its highest weekly close since January. Six major financial institutions announced their new forecasts for gold prices, with most predicting levels of $5,000 and above.

UBS revised its medium- and long-term outlook for gold upward, projecting that it could reach $5,000 per ounce by the first half of 2027. The bank cited central bank purchases as one of the key drivers of the rally.

Morgan Stanley maintained a 'constructive' approach to gold despite short-term headwinds and reiterated its year-end target of $5,200 in 2026. Standard Chartered also projected that gold will maintain its upward trend due to strong fundamentals.

Citi anticipated a strong rally in the final quarter of the year following a short-term stagnation, projecting gold to reach $4,500 per ounce and surpassing $5,000 in the first half of next year. Deutsche Bank assessed a fair value of $4,700 per ounce for gold toward the end of the year.