Bob Brackett, an analyst at Bernstein Research, has revised his forecast for gold prices upwards for the end of 2026. He now anticipates that by 2027, the price of the precious metal will reach $4,533 per ounce, an increase of approximately 10.9% from the current level of around $4,088.
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Additionally, the expert has updated the projection for the second half of 2026 to $4,375 per ounce. Previously, Bernstein analysts expected gold to be valued at approximately $4,180.
Among the primary factors that could fuel the appreciation of gold, Brackett points to consistent demand from central banks, particularly the People’s Bank of China. Furthermore, the precious metal continues to receive strong backing from institutional investors, evidenced by minimal outflows from gold-focused exchange-traded funds (ETFs). As of July, these funds manage assets exceeding $282 billion in the United States.
The analyst also suggests that selling pressure might diminish in the latter half of 2026 if the U.S. Federal Reserve refrains from aggressive interest rate hikes, despite inflationary concerns.
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Conversely, Brackett cautions that persistent inflation remains a significant risk. If the Fed is compelled to raise rates more sharply than the market anticipates, it could diminish gold’s appeal and curb further price increases.
This optimistic outlook emerges after a challenging period for the precious metal. Gold has already shed a considerable portion of its value from its all-time peak of over $5,500 per ounce. Concurrently, the stocks of major gold mining companies, including Newmont, Agnico Eagle Mines, and Barrick Gold, have also entered a “bearish” trend. Should Bernstein’s forecast materialize, these companies’ shares could potentially resume their upward trajectory.
PSM editorial team notes that for Ukraine, the dynamics of gold prices hold significance beyond mere investment. During times of global economic uncertainty, the precious metal is traditionally regarded as a “safe haven” for capital, and its price surge can influence the strategies of central banks, international investors, and the overall state of global financial markets, to which the Ukrainian economy is gradually becoming more integrated.
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Sources: finbold.com; streetinsider.com.