ANZ raises year-end gold forecast to $3,800
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ANZ Group on Wednesday raised its year-end gold price forecast to $3,800 per ounce and said prices could peak near $4,000 by June next year, citing robust investment demand for bullion.
Spot gold hit a record high of $3,673.95 on Tuesday and gold is up 38% year-to-date, driven by a weaker dollar, strong central bank purchases, dovish monetary policies, and rising global uncertainty.
Greenback-priced bullion, which yields no interest and is often considered as a safe-haven asset during periods of economic and geopolitical uncertainty, typically performs well in a low-interest-rate environment.
The following is a list of the latest forecasts for 2025 and 2026 gold prices (in $ per ounce):
| Brokerage/Agency | Annual Price Forecasts | Price Targets |
| 2025 | 2026 | |
| Goldman Sachs | $3,280 | $4,025 |
| Commerzbank* | $3,400 | |
| HSBC | $3,215 | $3,125 |
| Deutsche Bank | $3,188 | $3,700 |
| ANZ | $3,338 | $3,845 |
| Macquarie | $3,252 | $2,850 |
| UBS | $3,500 | – |
| BofA | $3,356 | $3,750 |
| JP Morgan | $3,336 | $4,068 |
| Morgan Stanley | $3,359 | $3,313 |
| Citi Research | $3,200 | – |
(By Anmol Choubey)
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