5 Gold Price Forecasts – June 2026 Update
- Jul 10
- 3 min read
The first half of 2026 has come to an end. At Aktagold, we believe this is an ideal time to look ahead and review expectations for gold's performance throughout the remainder of 2026 and into 2027.
Following an exceptional rally in 2025 and a sharp correction of more than 20% during the first half of 2026, gold remains at the center of the outlooks published by the world's leading investment banks.
Although institutions such as JPMorgan, UBS, Goldman Sachs, Bank of America, and Morgan Stanley differ in their price targets, they all agree on one fundamental point: gold continues to be supported by structural factors that could drive prices to new record highs between late 2026 and 2027.
Below is our end-of-June 2026 update on the leading gold price forecasts for 2026–2027.
1. JPMorgan: Gold Between US $6,000 for 2026 and US $6,300 for 2027
The most optimistic forecast comes from JPMorgan, which in its latest update (June 9, 2026) maintained a gold target price of US $6,000 per ounce by the end of 2026 and a bullish scenario of US $6,300 per ounce for 2027.
According to the bank, the primary driver will continue to be sustained gold purchases by central banks, particularly those in emerging economies seeking to diversify their international reserves. JPMorgan also believes that geopolitical uncertainty and a potential easing of monetary policy could increase institutional investor demand for gold-backed exchange-traded funds (ETFs).
2. UBS: Target Price of US $5,200 with Further Upside Potential
In its latest report (June 25, 2026), UBS raised its 12-month price target (mid-2027) for gold to US $5,200 per ounce, representing an upside of approximately 30% from current price levels.
The Swiss bank views the recent market correction experienced during the first half of 2026 as temporary and argues that gold will continue to benefit from the global demand for safe-haven assets. UBS also emphasizes that the diversification of international reserves remains far from complete.
3. Bank of America: Gold at US $6,000 by Mid-2027
Bank of America is also among the most optimistic institutions with respect to gold forecasting. In a recent interview (May 19, 2026), Michael Widmer, the Head of Metals Research at Bank of America, reaffirmed the bank's forecast of US $6,000 per ounce by mid-2027.
Bank of America highlights three structural factors supporting its estimate: solid gold purchases by central banks, climbing fiscal deficits, and a historically low allocation to gold in private portfolios.
4. Goldman Sachs: Forecast of US $4,900 by the End of 2026
Goldman Sachs, in contrast, has adopted a more conservative stance with gold forecasting. In its latest institutional report (June 19, 2026), the U.S. investment bank revised its year-end 2026 gold price forecast downward to US $4,900 per ounce.
Although Goldman Sachs maintains a positive outlook for gold, it also acknowledges that higher interest rates for an extended period of time could limit a part of the metal's upside. Nevertheless, the bank believes that continued central bank purchases will remain a significant source of support for gold prices.
5. Morgan Stanley: Gold at US $5,200 by the End of 2026
Morgan Stanley takes a similar position to Goldman Sachs in its latest update (May 9, 2026), projecting a gold price of US $5,200 per ounce by the end of 2026.
The bank recognizes gold's upside potential but cautions that factors such as the current strength of the U.S. dollar and restrictive monetary policy (implying the increase of interest rates) could lead to periods of volatility. Its outlook assumes a scenario of moderate economic growth and a gradual normalization of the financial markets.
Gold Outlook: The Consensus
Although these forecasts vary considerably, the aforementioned major financial institutions agree on two key assumptions:
The current correction in gold prices is viewed as a short-term phenomenon that could reverse within the next 6 to 12 months.
The long-term investment thesis which supports a fundamentally positive outlook for gold remains intact, driven by an uncertain global economic environment, elevated public debt levels, and the ongoing search for financial independence.
The forecasts from these banks suggest that, with gold currently trading slightly above US $4,100 per ounce (July 10, 2026), this could be an opportune time for investors to increase their gold holdings and take advantage of the current market conditions.
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