Bank of America Predicts Gold Could Hit $5,000/oz in 2026

Bank of America Global Research has raised its forecast for gold prices, projecting that the metal could reach $5,000 per ounce by 2026. 

The bank now expects an average gold price of around $4,400/oz for the year. 

Gold recently surged past the $4,000/oz mark for the first time as investors flocked to safe-haven assets amid geopolitical tensions and expectations of U.S. interest rate cuts. 

Despite the bullish outlook, the bank warns of a potential near-term correction. But it still believes a rise in investment demand of about 14%—comparable to recent years—could push prices toward that $5,000 target. 

The outlook also included silver, with Bank of America forecasting it to reach about $65 per ounce next year, thanks to tight supply conditions.