Gold Prices May Hit $5,000: With gold scaling record highs on what feels like adaily basis, mainstream financial analysts are scrambling to raisetheir price forecasts.
Goldman Sachs recently upped its 2026 price projection to $4,900. Not to be outdone, Bank of America hasnow raised its 2026 forecast to $5,000 an ounce.
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Gold cracked the $4,000 level on 8 October, 2025. It then quickly climbed toover $4,100.
Gold has gained over 52 percent this year. Going back to January 2024, the price of yellow metal has surged by over 95 percent.
$5,000 Gold Forecast by 2026: Bank of America’s Bold Prediction
Bank of America raised its price target for next year from $4,400 to $5,000 with a $4,600 average, citing “unorthodox” policies in Washington, D.C.
“The White House’s unorthodox policy framework should remain supportive for gold given fiscal deficits, risingdebt, intentions to reduce the current account deficit/capital inflows, along with a push to cut rates with inflation around percent.”
BoA analysts said the higherprice should continue to drive investment demand into next year.
“Looking into 2026, a 14 percent increase of investment demand – similar to what we have seen this year – could lift gold to $5,000/oz.”
Despite the optimistic price forecast, the Bank of America note did caution that we could see a nearterm correction.
The big bank also increased its silver forecast, projecting $65 silver in 2026.
A mining CEO, Randy Smallwood, told Bloomberg TV that the BoA forecast was more than reasonable, and that might be just the beginning.
“I’m confident that we will see gold over $5,000 within the next year. It’s a trajectory that could easily put it up to $10,000 an ounce before the end of the decade. It wouldn’t surprise me at all.”
Smallwood said the surging gold price is reflecting problems with the dollar.
“It’s the measuring stick that we’re using. It’s the U.S. dollar that we’re all seeing — that we’re all concerned about in terms of longterm strength.”
It’s not just the dollar. Gold is setting records in every major currency. This reflects growing shakiness in the fiat money system. Real money – gold – is showing its metal (pun intended).