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Potential factors for gold to surpass $5,000
Jeffries, an American company, predicts that gold prices will continue to rise during 2026 and 2027, with the possibility of surpassing the $5,000 per ounce level. The analysis is based on a new model focusing on structural shifts in the precious metal market, most notably central banks diversifying their reserves and increasing their gold holdings, reducing reliance on the dollar, and the rising US fiscal deficit relative to GDP. Scenarios that could push gold prices above $5,000 include an increase in the US fiscal deficit, a decline in the dollar's share of global reserves, and central banks doubling their gold purchases. Despite this bullish outlook, the company warns that if central bank purchases decrease or shift to sales, it could lead to a significant drop in prices, especially given the strong performance gold has exhibited since the beginning of 2024.
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