Gold price to hit $4,800 in 2026? What investors should do now

SEATTLE (Scrap Monster): Gold’s remarkable rally shows no signs of easing as it heads into 2026, and market experts believe the precious metal may now be poised for another strong upward surge.

In a recent report, brokerage house Ventura said that it believes a “cocktail powered by central bank buying, stubborn inflation, widening US deficits, and concerns around the US economy and tariffs” could propel gold prices to a target range of $4,600–$4,800 in the coming year.

An expectation of 75 bps worth of US Federal Reserve rate cuts in 2026 is expected to keep strong bidding interest alive and deepen the metal’s multi-year bull market.

Ventura highlights that gold’s bullish cycle remains “far from over” as institutional investors increasingly seek an inflation hedge, followed by rising retail and speculative participation. The firm notes that this layered demand is strengthening the foundation of gold’s long-term rally.

Meanwhile, last month, Deutsche Bank had lifted its 2026 gold price forecast to $4,450 an ounce, up from $4,000 earlier, citing steadier investor inflows and sustained central-bank buying. The bank now anticipates gold to trade in a $3,950–$4,950 range next year, with the upper end sitting roughly 14% above the current December 2026 COMEX futures price.

It described a “positive structural backdrop,” noting that strong central-bank purchases and ETF inflows are absorbing a large share of available supply, leaving less metal for jewellery demand even as total demand continues to exceed supply. Deutsche Bank kept its 2027 forecast at $5,150, saying the estimate “straddles the uncertainty” between a normalised market environment and a scenario of prolonged elevated official-sector buying.

Further more, Morgan Stanley, in an earlier report, had predicted that gold could rise to $4,500 per ounce by mid-2026, supported by firm physical demand from exchange-traded funds and ongoing central-bank purchases amid a cloudy global economic outlook. The bank noted that gold had recently entered overbought territory on the RSI gauge, but the latest pullback has “reset the market to a healthier level,” improving positioning. Morgan Stanley expects ETF inflows to strengthen as interest rates fall, while central-bank buying should continue—though at a more moderate pace—alongside stabilising jewellery demand.

The brokerage also warned of downside risks, including bouts of volatility that may drive investors toward alternative assets, as well as the possibility of central banks trimming their gold holdings, which could weigh on prices.

Courtesy: www.livemint.com