BofA cuts 2026 average gold forecast, sees long-term upside

Bank of America cut its 2026 average gold price forecast to around $4,360/oz, though it retains a long-term bullish view targeting $5,000/oz once the US Federal Reserve's tightening cycle ends. Spot gold fell over 1% to trade near $4,060/oz, echoing JPMorgan's recent caution that risks to its gold forecast skew to the downside. A compilation of major brokerages shows 2026 gold targets ranging from $4,323 (Macquarie) up to $6,300 (Wells Fargo).