BofA raises 2026 gold target to $5,000; sees silver testing $65, but with this caution

Bank of America on Monday raised its price forecasts for both gold and silver, without ruling out a near-term correction. BofA has raised its yellow metal price target for gold’s 2026 outlook to $5,000 per ounce, with an average of $4,400. For the white metal, the target is set at $65 per ounce, which equates to an average of $56.25, Reuters reported.

“The White House’s unorthodox policy framework should continue to support gold given fiscal deficits, rising debt levels, intentions to reduce the current account deficit/capital inflows, along with an effort to cut interest rates with inflation around 3%,” the report said, quoting the US-based lender.

Bank of America has become the first major bank to raise its 2026 gold price forecast to $5,000/oz.

The price of gold in the international market was hovering around $4,096.50 per troy ounce at 6:50 AM CT (5:21 PM India time) today, while the silver rate at this time today was at 49,660, up $2.41 or 5.1%.

Silver, which has returned over 70% so far this year, breached the $50 mark last week for the first time ever. Meanwhile, gold gains are over 55% so far through 2025. Spot silver reached an all-time high of $51.70/oz.

Spot gold crossed the $4,000 per ounce mark last week and is currently trading at $4,073.69 as of 1010 GMT. So far this year, the stock is up 55%.
BofA said investors will need to increase their purchases by 28% if they want to rise to $6,000/oz.

The bank expects silver prices to remain stable even as it expects an 11% drop in demand next year, citing an ongoing supply shortage. According to the Silver Institute, the metal is on track to record a structural market shortage for the fifth year in a row.

It added that the London market has tightened significantly due to the movement of silver to New York in anticipation of rates that ultimately did not materialize – a situation reflected in the sharp increase in rental rates.

“There is room for recent dislocations to slowly normalize, which could also increase volatility and put pressure on silver prices in the near term,” the bank noted.

Meanwhile, personal finance author and “Rich Dad Poor Dad” fame Robert Kiyosaki is bullish on silver, calling it and cryptocurrency Ethereum (ETH) “hot, hot, hot” in a recent social media post.

Kiyosaki, known for his long-standing advocacy of precious metals as a hedge against inflation and economic instability, predicted silver could soon reach $75 an ounce after recently breaching the $50 mark.

Also read: “Hot, Hot, Hot”: Robert Kiyosaki on Silver and Ethereum, Sees White Metal Reaching $75

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