Despite a dip by as much as 8% earlier this week, Wall Street analysts are still bullish on Gold prices, projecting a rebound soon. The recent slip was a surprise, as gold’s price rose more than 60% this year, leading precious metals and outperforming many top traditional stocks. Fortunately, Gold bulls remain throughout Wall Street, with analysts maintaining ratings and projecting a price rebound.
Commodities analysts at Goldman Sachs reiterated their 2026 price target of $4,900 per ounce on Thursday. The analysts said they expect central banks around the world to continue filling their vaults with gold over the next year.
The speed of recent ETF inflows and client feedback suggests many long-term capital allocators — including sovereign-wealth funds, central banks, pension funds, and both private wealth and asset managers — are planning to increase their exposure to gold as a strategic portfolio diversifier,” Goldman Sachs added in a note to clients.
Additionally, JP Morgan on Thursday revised its gold price prediction with a new target of $5,055. The bank wrote in a note to clients that it expects the precious metal to reach the target during the fourth quarter of 2026. The investment bank cited heavy demand from retail investors and central banks from around the world, making a beeline to invest in the glittery metal. Further, they suggested that the recent dip came from profit-taking investors sending the gold price down slightly.
Furthermore, Bank of America analysts recently reiterated their “long gold” recommendation and are forecasting a peak of $6,000 per ounce by mid-2026. The firm also raised its price target for Silver prices to $65 an ounce, which shows they’re not backing down from their bullish stance on precious metals.
Standard Chartered analyst Suki Cooper also says the market is going through a “technical correction” as the “universe of investors has expanded rapidly.” It’s worth noting that Bart Melek, TD Securities’ global head of commodity strategy, told Bloomberg that precious metal dealers are “taking profits after a very robust rally,” and he pointed out that the recent gains were historically unsustainable.