Gold Price Forecast Hits $4,500 for 2026 — Surge Expected

Gold is expected to maintain its strong momentum into next year, with analysts forecasting prices could reach $4,500 per ounce in 2026. Spot gold rose 0.6% on Monday to $4,255.04 per ounce, marking its highest level since October 21, while US gold futures for February delivery climbed 0.8% to $4,290.40.

UBS analyst Giovanni Staunovo said, “He anticipates gold to rise to $4,500 an ounce next year.” Staunovo added that investor sentiment is being supported by expectations of a Federal Reserve interest rate cut in December, and the likelihood that the next Fed chair will adopt a dovish stance, boosting demand for the metal.

Gold gained additional momentum as markets increasingly priced in lower interest rates following softer US economic data and dovish remarks from policymakers, including Federal Reserve Governor Christopher Waller and New York Fed President John Williams. The CME FedWatch tool currently shows an 88% probability of a December rate cut, a move that typically benefits gold, which does not yield interest.

White House economic adviser Kevin Hassett expressed willingness to serve as the next Fed chair if selected, aligning with President Donald Trump’s preference for low interest rates. Treasury Secretary Scott Bessent added that Trump is likely to announce his choice before Christmas.

Investors are closely monitoring the ADP employment report and core US PCE inflation data, which are due later this week, for further guidance on the Fed’s policy direction. Meanwhile, the US dollar slipped to a two-week low, making gold more attractive to buyers using other currencies.

UBS also forecasts that silver could reach $60 per ounce in 2026. In the broader precious metals market, platinum rose 1.6% to $1,698.85, while palladium increased 1.7% to $1,475.02.