Data collected from a number of global investment banks provided a forecast for gold prices in 2026. In the US, JP Morgan beat expectations for the price of an ounce of gold to reach around $6,300 by the end of the year. French bank Société Générale expects prices to hit close to $6,000 an ounce by the end of 2026, and Germany’s Deutsche Bank has set a target of $6,000 an ounce by the end of the year if the dollar continues to weaken.
lowest estimate
UBS expects the price of gold to reach around $5,900 by the end of the year, while America’s Morgan Stanley estimates the price of an ounce of gold at around $5,700 in the second half of 2026.
As for American bank Goldman Sachs, it expects prices to be around $5,400 an ounce next December. As a minimum estimate, the London Bullion Market Association expected the average price of gold to reach around $4,742 per ounce this year.
geopolitical risk
Goldman Sachs has justified its expectation that gold purchases by the private sector have increased in recent periods. Their gold holdings are unlikely to be liquidated in 2026 to hedge against global political risks. This shows that prices remain high.
increase in demand
JPMorgan explained that diversification of investment portfolios contributed to the increase in gold demand, as real assets have outperformed paper assets.
The experts’ forecasts come as World Gold Council data showed total demand for gold will exceed 5,000 tonnes for the first time in 2025, accounting for over-the-counter trading, due to exchange-traded funds (ETFs), central bank purchases, and increased demand for bars and coins.
Data compiled by several global investment banks shows the gold price forecast for 2026. JPMorgan expects the price of an ounce of gold to exceed this forecast and reach around $6,300 by the end of the year. French bank Société Générale expects prices to be close to $6,000 an ounce by the end of 2026, while Deutsche Bank has set an annual target of $6,000 an ounce if the dollar continues to weaken.
lowest estimate
UBS expected the price of gold to reach around $5,900 by the end of the year, while Morgan Stanley expected the price of an ounce of gold to be around $5,700 in the second half of 2026.
Goldman Sachs predicted December prices would be around $5,400 an ounce. At its lowest estimate, the London Bullion Market Association expects the average price of gold to be around $4,742 per ounce this year.
geopolitical risk
Goldman Sachs justified its forecast by pointing to the recent increase in private sector purchases of gold as a hedge against global political risks, noting that it is unlikely to exit its gold holdings in 2026 and suggesting that prices will remain high.
increase in demand
JP Morgan explained that diversification of investment portfolios is contributing to the increase in gold demand as real assets outperform paper assets.
The expert bodies’ forecasts come as World Gold Council data showed that total demand for gold will exceed 5,000 tonnes in 2025 for the first time, taking into account over-the-counter trading, due to increased demand for exchange-traded funds (ETFs), central bank purchases, bars and coins.
