LONDON (IT BOLTWISE) – The price of gold has reached a new high and Deutsche Bank is optimistic. The precious metal continues its recovery with an increase to over 4,169 US dollars per troy ounce. The bank raised its 2026 average gold price forecast to $4,450, reflecting continued demand from central banks and geopolitical uncertainties.
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The price of gold recently reached a new high, showing a remarkable recovery after an interim low at the end of October. By mid-morning, the price of a troy ounce rose to over $4,169, marking its highest level since mid-November. The gold price had already developed positively in the previous days, having reached a record high of $4,381.52 on October 20th.
In a recent study, Deutsche Bank has raised its forecast for the average gold price in 2026 from $4,000 to $4,450 per ounce. The bank expects the price to range between $3,950 and $4,950 next year. This optimistic view is based on a “constructive” environment for gold, characterized by continued demand from central banks and geopolitical uncertainties.
Another factor that influences the price of gold is the latest US economic data, which was rather disappointing. These data suggest a possible rate cut by the US Federal Reserve, as consumer confidence has noticeably deteriorated. Some Fed officials have already advocated for such a measure, which could further support gold prices.
The negotiations to end the war in Ukraine also have an impact on the price of gold, as the precious metal is considered a safe haven in uncertain times. The USA is continuing to put pressure on talks about ending the war and is striving for rapid progress. According to US President Donald Trump, there are only a few points of contention left, which fuels hope that an agreement will be reached soon.
Overall, gold remains one of the most popular asset classes this year, despite fluctuations in price. Since the end of 2024, the value of the precious metal has increased by around 60 percent, underlining the attractiveness of gold as an investment. Ongoing demand and geopolitical uncertainties could continue to influence gold prices in the future.
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