Two major banks raised their gold forecasts
French bank Societe Generale raised its gold price forecast for the end of 2026 to $5,000 per ounce.
According to CNBC-e, analysts Michael Haigh and Ben Hoff wrote in a note, "ETF inflows remain strong and we expect central bank gold purchases to remain resilient. Therefore, we feel both confident and obligated to update our target prices upward."
The bank stated that the increase in global demand has exceeded its forecasts, saying, “We now expect prices to reach $5,000 per ounce by the end of 2026 because the pace of market inflows has exceeded our initial assumptions.”
British Bank Revises Forecast
The giant UK-based bank Standard Chartered also revised its gold price forecast upwards for 2026. The bank announced that it expects the price of an ounce of gold to reach $4,488 in 2026.
Source: News Center
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