Wall Street Bullish on Gold Despite Recent Dip, Analysts Project Rebound
Gold prices dipped as much as 8% earlier this week, yet Wall Street analysts remain steadfast in their bullish outlook. The precious metal, which has surged over 60% this year, continues to outperform traditional stocks. Central bank demand and institutional interest are expected to drive a rebound.
Goldman Sachs reaffirmed its 2026 price target of $4,900 per ounce, citing accelerated ETF inflows and strategic portfolio diversification by sovereign wealth funds, pension funds, and asset managers. JP Morgan raised its forecast to $5,055 for late 2026, attributing the upward revision to robust retail and central bank demand.
The recent pullback appears temporary, fueled by profit-taking rather than structural weakness. Gold's role as a hedge and store of value remains unchallenged amid global macroeconomic uncertainty.
