The increase in gold is said to be due to factors such as central bank purchases, low interest rates and concerns about the strength of the US economy.
US Bank predicts gold price to 5,000 USD/ounce
The Bank of America (BofA) forecasts gold prices to reach $5,000/ounce by 2026, equivalent to an increase of 19% compared to the current level.
According to BofA analysts, factors driving gold prices such as increased deficit spending in the US and President Donald Trump's "unusual" economic policies are still valid. The bank believes that investors have not yet fully exploited the long-term potential of gold, although prices have just adjusted.
Goldman Sachs and Deutsche Bank: Continued uptrend
Goldman Sachs forecasts gold will reach $4,900/ounce by the end of 2026, up 17%.
Daan Struyven, co-head of global commodity research at Goldman Sachs, said that factors supporting this year's price increase such as central bank demand and the expected interest rate cut by the Fed will continue.
He noted that the ETF gold market is still small compared to the US bond market, making gold a popular safe-haven asset.
Deutsche Bank forecasts gold could reach $4,950/ounce, up 18%, with a base of around $4,450/ounce.
The bank said that cash flow from central banks and ETF investors remains strong, while technical signals show that "positional adjustment is complete".
However, Deutsche Bank also warned of the risk of gold prices if the stock market corrects deeply, the Fed cuts interest rates less than expected, or geopolitical conflicts cool down.
HSBC: Caution but positive forecast
HSBC forecasts gold prices to fluctuate between $3,600-4.400/ounce, with the highest level equivalent to an increase of 5%.
James Steel, a precious metals analyst at HSBC, said that geopolitical fluctuations and the wave of nationalism will continue to put pressure on the gold market.
HSBC believes the rally could slow in the second half of 2026 if gold supply increases, physical demand decreases, or central banks limit gold purchases above $4,000.
Forecasts from the big guys of banks show that gold is still a safe haven in the context of economic and geopolitical instability. Although specific increases vary, the common point is that banks believe that demand for gold, especially from central banks and institutional investors, will continue to support gold prices next year.
World gold prices are currently trading around $4,158.15/ounce.
Regarding domestic gold prices, SJC gold bar prices are trading around 151.9 - 153.4 million VND/tael (buy - sell).
The price of 9999 Bao Tin Minh Chau gold rings is trading around 150 - 153 million VND/tael (buy - sell).
