Bank of America's (BofA) 2026 forecast for gold is now $5,000 per ounce, up from previous predictions. The bank cites factors like a weakening U.S. dollar, interest rate cuts, and geopolitical instability as drivers for its bullish outlook. While BofA has raised its 2026 target, its near-term forecast has also been updated.
- 2026 Forecast: $5,000 per ounce.
- Mid-term Target: ~$4,000 per ounce.
- Reasons cited for bullish outlook:
- Weakening U.S. dollar
- Falling interest rates
- Geopolitical instability, including ongoing wars and potential U.S. trade policy changes
- Central bank purchases as they diversify reserves away from U.S. Treasuries
- Weakening U.S. dollar
