Deutsche Bank Anticipates Gold Prices to Reach $6,000 by 2026

SadaNews - Deutsche Bank predicted today, Tuesday, that gold prices will surge to $6,000 per ounce by 2026 as investors continue to increase their allocations to non-dollar and real assets.

Gold recorded a record high of over $5,100 per ounce in spot trading yesterday, Monday, as increasing geopolitical and economic uncertainty heightened investor demand for safe-haven assets.

Deutsche Bank noted that there are alternative scenarios that could push gold to even higher levels, stating, "Perhaps a price of $6,900 per ounce is actually more consistent with the extremely strong performance over the past two years.".

Analysts at Société Générale also expect the price of gold to reach $6,000 per ounce by the end of the year, but they indicate that this may be a conservative estimate given the potential for further gains.

Morgan Stanley stated yesterday that gold may continue to rise, suggesting it could reach $5,700 per ounce.

Gold prices rose by 1.5% to $5,082.65 at the time of this report.

Gold prices have jumped over 17% since the beginning of 2026, benefiting from a 64% rise last year, also supported by strong central bank purchases and inflows into exchange-traded funds, along with expectations of U.S. interest rate cuts.

U.S. Deficit

Bloomberg quoted Vincent Mortier, chief investment officer at Amundi SA – Europe's largest asset management company – stating that the shift toward gold and away from the dollar is also driven by the significant U.S. budget deficit and uncertainty surrounding the future policy of the Federal Reserve.

He added, "We have allocated part of our investments to gold over the past two and a half years, and I believe this trend will continue, as gold in the long term is a safe haven against currency depreciation, and a good way to preserve part of purchasing power.".

Mortier explained, from Amundi – which manages assets worth €2.3 trillion (approximately $2.7 trillion) according to its website, that a large portion of the demand for gold comes from institutional investors, such as central bank governors and sovereign wealth management companies.

He added that Trump's attack on traditional U.S. allies, including the recent dispute with European countries over Greenland, and his ongoing threats to impose tariffs, will have dire consequences.

He said, "You cannot intimidate allies forever. New alliances are beginning to form. Europe's stance on Greenland is interesting, indicating that under pressure, new methods of resistance can be found.".

He remarked, "You may not wish to buy the euro today, and the exchange rate of the renminbi (yuan) may be too early, while the Japanese yen is under pressure, so the alternative is gold. We have seen this quite a lot with our clients.".

Canadian Prime Minister Mark Carney had called last week for middle-power countries to work together in a candid message during the World Economic Forum in Davos, Switzerland, warning against coercion by superpowers.

Gold remains attractive to investors, even with its price exceeding $5,000 per ounce, as a tool for portfolio diversification, according to BlackRock.

Bloomberg quoted the head of investment solutions and portfolios at BlackRock for Europe, the Middle East, and Africa, Ursula Marchioni, this week saying, "It (gold) is proving its place as a hedge for everything.".