Gold continues to surge to new highs, and major banks are adjusting their outlooks accordingly.
On Friday, both UBS and Commerzbank significantly revised their gold price targets upward, citing mounting global uncertainty as the metal smashed past $3,200 per ounce for the first time.
The recent rally is being fueled by growing fears over U.S. economic policy under President Donald Trump. His aggressive tariff strategy—particularly a 145% hike on Chinese imports—has sent ripples through global markets.
China’s response, lifting its own tariffs on U.S. goods to as high as 125%, has only added to the tension. While the White House has temporarily paused some tariffs, the damage to investor confidence appears done.
Gold has jumped more than 22% since the start of the year, reinforcing its status as a go-to safe-haven asset. UBS expects the momentum to continue into 2026, projecting gold could reach $3,500 per ounce by year’s end. Commerzbank, also bullish, revised its year-end target to $3,000, up from $2,850, highlighting record inflows into gold-backed ETFs, which hit $345.5 billion in assets under management by the end of March.
Meanwhile, central banks are quietly stocking up. China, the world’s top consumer of gold, has expanded its reserves for five consecutive months. As of March, the country held 73.7 million fine troy ounces—an increase from 73.61 million in February.
Adding to the chorus of optimism, Deutsche Bank recently updated its forecast, estimating average gold prices of $3,139 in 2025 and as high as $3,700 by 2026. With inflation concerns and geopolitical volatility on the rise, gold’s glitter is unlikely to fade anytime soon.
Alexander Stefanov
Reporter at Coindoo
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over 8 years of experience covering the crypto, blockchain and fintech industries, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics.
Source: https://coindoo.com/top-banks-are-raising-their-gold-price-predictions/
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