Jan 13 (Reuters) - Commerzbank raised its gold price forecast to $4,900 by the end of this year on Tuesday, citing increased safe-haven demand.
Gold prices (XAU=) this week hit a record high of $4,629.94, as geopolitical tensions and the U.S. administration’s threats to the Federal Reserve chair have driven buying.
Citi had raised its base case zero to three-month target for gold to $5,000 an ounce on Monday.
Following is a list of analysts’ latest gold price forecasts (in $ per ounce):
Brokerage/A Annual Price Price Forecast as
gency Forecast Targets of
2026
Morgan $4,400 $4,500 by October 31,
Stanley mid-2026 2025
Citi $5,000 Raises 0-3 January 13,
Research month price 2026
target to
$5,000
JP Morgan $4,753 Expects October 23,
prices 2025
reaching an
average of
$5,055/oz
by 4Q26
HSBC $4,587 $4,450 per January 8,
ounce by 2026
year-end
2026
ANZ $4,445 $4,400 by October 16,
year-end 2025
and $4,600
by June
2026
Bank of $4,438 2026 gold October 13,
America outlook 2025
raised to
$5,000
Societe $4,716 $5,000 by October 13,
Generale the end of 2025
2026
Standard $4,488 - October 13,
Chartered 2025
Goldman $4,525 $4,900 by October 7,
Sachs December 2025
2026
Commerzbank $4900 $4,800 by January 13,
<ul>
<li>mid-2026 2026</li>
</ul>
Deutsche $4,450 Yearly November 26,
Bank range from 2025
$3,950-$4,9
50/oz in
2026
UBS $3,825 Decline in October 16,
real rates, 2025
potentially
into
negative
territory,
could push
gold
towards
$4,700
*end-of-period forecasts

TABLE-Commerzbank raises 2026 year-end gold forecast to $4,900/oz