Gold prices climb $50, reaching $5,370/oz, up 0.91% for the session

Gold prices climb $50, reaching $5,370/oz, up 0.91% for the session

Gold Prices Climb to $5,370/Ounce Amid Bullish Analyst Outlooks
March 2, 2026

Gold prices rose $50, or 0.91%, to $5,370 per ounce on Monday, extending a multiyear rally driven by strong demand from central banks, geopolitical uncertainties, and expectations of continued Federal Reserve rate easing. The benchmark metal has surged over 11% in 2026, building on a 64% gain in 2025, as investors increasingly view gold as a hedge against global economic and policy risks according to Goldman Sachs.

Goldman Sachs raised its end-2026 price forecast to $5,400/oz from $4,900/oz, citing sustained diversification into gold by private-sector investors and emerging market central banks. The firm noted that non-liquidation of gold holdings by institutional buyers could further prop prices. Similarly, JP Morgan maintained its year-end 2026 target at $6,300/oz while raising its long-term forecast to $4,500/oz, emphasizing structural demand trends and geopolitical tensions.

Other major banks have also adjusted their projections. Citi Research lifted its short-term target to $5,000/oz, while Bank of America and Société Générale see gold reaching $5,000–$6,000/oz by year-end 2026. Conversely, UBS and Deutsche Bank forecast more moderate gains, with price ranges projected between $3,950–$4,950/oz. Central bank purchases, expected to average 60 tonnes in 2026, remain a key driver, as emerging markets continue to diversify reserves away from U.S. dollars.

The rally has been supported by declining real interest rates, which reduce the opportunity cost of holding non-yielding assets like gold. Analysts caution, however, that short-term volatility remains likely amid fluctuating dollar strength and evolving geopolitical dynamics. With multiple institutions raising price targets, the gold market appears poised for further gains, though outcomes will depend on central bank policies and global risk perceptions.

Goldman Sachs raises 2026 gold price forecast to $5,400/oz: Reuters via Investing.com
JP Morgan raises long-term gold price forecast to $4,500/oz: Reuters
Gold prices climb to $5,370/ounce: Goldprice.org