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Gold Prices Soar: Metals Focus Predicts $5,000 by Year-End on Central Bank Buying Spree
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CNBC TV18•23-09-2026, 16:19
Gold Prices Soar: Metals Focus Predicts $5,000 by Year-End on Central Bank Buying Spree
- •Gold could reach $5,000 an ounce by the end of 2026, driven by continuous central bank purchases, according to Philip Newman, Managing Director of Metals Focus.
- •Recent US rate hikes are unlikely to significantly dampen gold prices, as much of the impact is already factored in, with $4,300 an ounce seen as a strong support level.
- •Central banks are expected to remain key buyers, providing crucial support and a floor to gold prices, with strong demand anticipated in Q2 and Q3.
- •Indian festival and wedding demand is projected to improve, with postponed orders indicating future demand despite current caution due to high prices.
- •Silver could benefit from a stronger gold market, potentially rising to $80 an ounce if gold hits $5,000, with further upside possible in 2027.
Key Questions Answered
Metals Focus Managing Director Philip Newman projects that gold prices could climb to $5,000 an ounce by the end of 2026, supported by continued central-bank buying and investor concerns over rising US debt levels.
Recent and expected US rate hikes are unlikely to significantly dampen the gold market because much of their impact has already been priced in, with $4,300 an ounce serving as a strong support level.
If gold reaches $5,000 an ounce, Philip Newman expects silver to potentially rise to $80 an ounce, with further upside possible heading into 2027.
