(Before you read please note that this is not an expert opinion, is not guaranteed that the price will increase, it's just an analysis)

Expert Price Forecasts for 2026

Several prominent banks and consultancies have issued forecasts near or at the $5,000 level for 2026:  

Bank of America : Explicitly forecasts gold to reach as high as $5,000/ounce in 2026.  

JPMorgan: Projects gold to be around $5,000/ - 5,300/ounce by the end of 2026.  

UBS: Forecasts a target of $5,000/ounce by 2026 or 2027.  

Deutsche Bank: Projects gold could rise to $4,950/ ounce in 2026, with an average forecast of $4,450/ ounce.  

Goldman Sachs: Has a base-case target of $4,900/ounce by the end of 2026, with potential for upside. A client survey by Goldman Sachs showed that 36% of institutional investors believe gold will top $5,000 by the end of 2026.  

Key Factors Driving the Bullish Forecasts

Central Bank Buying: This is cited as the single biggest, most persistent driver. Central banks, particularly in emerging markets, are diversifying their reserves away from the U.S. dollar, leading to sustained, historically high levels of gold accumulation.  

Expected Interest Rate Cuts: Many analysts are factoring in expected interest rate cuts by the Federal Reserve and other central banks. Lower interest rates typically reduce the opportunity cost of holding non-yielding assets like gold, boosting its appeal. 

US Dollar Weakness: Rising US government debt and concerns over policy are leading to a weakening US dollar and fears of "fiat currency debasement," which makes gold more attractive as a hard asset and store of value.  

Geopolitical Uncertainty: Ongoing global conflicts and tensions reinforce gold's traditional role as a safe-haven asset, increasing demand from institutional and private investors.  

Important Considerations

Not a Guaranteed Outcome: These are forecasts and market conditions are highly unstable.

Volatility: Even with a high target, analysts warn of near-term tactical pullbacks and volatility along the way.  

Downside Risks: The main risk cited by analysts is a hawkish shift by the Federal Reserve.