In our 2025 Guardian Gold Report we noted that major banks would likely be revising their gold price targets higher, given the strong price performance in the first quarter of 2025.
Sure enough, we are seeing these headlines coming through now from several major banks.
Bank of America have just increased their 2026 gold price forecast to a whopping US$3,350, citing ongoing uncertainties stemming from U.S. trade policies.
This year’s surge in gold prices of over 15% year-to-date has been largely driven by economic and geopolitical concerns related to President Donald Trump’s tariff strategies.
BofA also suggests that a 10% increase in investment demand could propel gold prices to $3,500 within the next two years.
Additionally, central banks, which currently hold about 10% of their reserves in gold, might increase this allocation to over 30%, providing further support to gold prices.
Gold:Silver Ratio Elevated at 89:1
With the gold price in a major bull market, many are losing focus on silver and the potentially undervalued level, given the current ratio of 89:1.
Many commentators are turning bullish on silver given the industrial demand outlook and the current ratio to gold. A quick Youtube video below explains the Gold:Silver ratio and you can follow the chart on our market updates page.
Gold Silver Ratio – Youtube
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