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Nettavisen | "Betting on a new mega-rally – major banks predict near doubling"
Gold has fallen 15% since January. Several major banks still expect a rebound, pointing to a long-term weakening of major currencies. Others are more cautious.
This piece from Nettavisen gathers gold forecasts from nine major banks. Some lean bullish on a currency-debasement thesis. Others, like advisory firm Clairon, are more measured. Eric Strand offers his read on the recent pullback. A long-running sentiment indicator adds another angle.
Valuable Insights:
- Most major banks expect gold above today's ~$4,700. Year-end 2026 targets cluster between $5,000 and $6,300, with bull-case scenarios at $8,000. HSBC's $3,950 is the main outlier below current price.
- The shared reason: when governments run big deficits and keep money loose, paper currencies gradually lose value — and gold tends to gain. Wells Fargo argues this dynamic is multi-year, and we're not yet halfway through it.
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