Analysts raise 2026 gold price target citing robust central-bank demand and a less aggressive Fed rate path.
Bernstein revised its 2026 gold price target to $4,533 per ounce, up from $4,180 in January, as expectations shift for Federal Reserve policy. The firm also set a second-half 2026 target of $4,375, reflecting a more favorable rate environment than previously anticipated.
Gold has traded near $4,100 per ounce, up 23% over the past year but down 1% over the last 30 days. Earlier forecasts had ranged from $4,180 to $4,800, with recent sell-offs driven by rising real yields and a stronger dollar.
The adjustment follows signs of sustained central-bank demand and a Fed that may not tighten as aggressively as markets feared. Analysts suggest the pullback could precede another rally rather than signal prolonged weakness.