World gold prices are forecast to continue to increase strongly in the period of 2025 - 2026, with the possibility of reaching 4,600 - 4,800 USD/ounce. This forecast was made by Ventura Securities - an international financial research and securities company.
According to Ventura, gold is currently in a long-term uptrend cycle and there is still a lot of room to go up after recording 9 consecutive uptrends, including the fourth quarter of 2025.
The company said that gold's increase was driven by a combination of macroeconomic factors including: strong net buying from central banks, persistent inflation, expanding US budget deficits, along with increasing concerns about global economic and geopolitical risks.
In addition, expectations that the US Federal Reserve (Fed) will cut interest rates by about 75 basis points in 2026 are also considered an important driving force. Reducing interest rates often causes bond yields to fall, thereby increasing the attractiveness of gold - a non-interest-bearing asset but considered a safe haven.
Ventura forecasts that as major economies continue to face inflationary risks and slow growth, investment flows may continue to shift to gold. This makes the price of 4,800 USD/ounce completely achievable in the current up cycle.
Not only Ventura, many other international financial institutions have made similar comments. Deutsche Bank raised its forecast for the average gold price in 2026 to 4,450 USD/ounce, with an expected range of 3,950 - 4,950 USD. Some organizations are more optimistic that gold could surpass the $5,000/ounce threshold if supporting factors appear at the same time, especially in the case of political tensions and central bank savings demand continuing to increase.
However, the World Gold Council (WGC) warns that gold prices may fluctuate strongly. According to the WGC, if the global economy stabilizes or bond yields recover, gold prices may only remain around $4,000/ounce instead of breaking out.
Regarding investment recommendations, Ventura believes that investors should maintain 5 - 10% of their investment portfolio in gold, in order to take advantage of the prevention role of this precious metal without reducing the overall profit efficiency.
In the context of economic instability, Ventura believes that gold is still one of the most stable assets, helping to balance the portfolio and preserve value in the long term.
