Bank of America on Monday raised its price forecasts for precious metals, lifting its 2026 outlook for gold to $5,000 an ounce, with an average of $4,400, and for silver to $65 an ounce, averaging $56.

Gold (GC=F) hit $4,220 on Wednesday — yet another record high. The precious metal's market moves were partially driven by heightened trade tensions between the US and China, as well as by increased expectations of Federal Reserve interest rate cuts at the October FOMC meeting.

Wall Street rose on Wednesday, with investor optimism lifted by strong bank and corporate earnings alongside growing expectations for further Federal Reserve rate cuts — keeping trade concerns sidelined for now.

Bank of America Global Research on Monday raised its price forecasts for precious metals, lifting its 2026 outlook for gold to $5,000 an ounce, with an average of around $4,400.

A “variety of multiple time frame technical signals and conditions warn of uptrend exhaustion,” writes BofA’s Paul Ciana.

Bank of America Corp.'s stock rose 4.4% and Morgan Stanley's stock advanced by 6.7% in early action on Wednesday after the two banking giant's stronger-than-expected earnings. The two stocks were surpassed only by Bunge Global SA's 11% rally as top gainers among components of the S&P 500,

Discover why analysts call the recent $19 billion crypto market dip a “controlled deleveraging”.Explore Bank of America’s bold Gold price

Gold and other precious metals have been on a historic tear throughout 2025, far outpacing the market's own bull run. Analysts only see more room to grow.

Bank of America on Monday hiked its price forecast for gold to $5,000 an ounce in 2026 as investors flock to the safe-haven asset. The bullish prediction follows a blowout year for the precious metal,