Earlier in the week, silver rose nearly 9% and touched an all-time high of ₹4,20,048 per kg on Thursday before easing to ₹3,99,893 per kg. Gold jumped nearly 9% on the same day to hit an all-time high of ₹1,80,779 per 10 grams before cooling to ₹1,69,403 per 10 grams on the MCX.
This sharp volatility in the precious metals markets has sparked widespread debate about where prices might be heading next.
Interestingly, the renewed focus on gold has brought past prophecies into focus, including one allegedly hinted at in the past by Baba Vanga, a famous Bulgarian mystic. It reportedly predicted a global “cash-crush” around 2026 – described as a severe banking or liquidity crisis that could destabilize conventional financial systems. If such a scenario were to materialize, it would typically boost demand for safe-haven assets.
Historically, gold has shown resilience during economic slowdowns and financial turbulence. In past global crises, the metal has often delivered gains in the range of 20% to 50%, reinforcing its reputation as a hedge against uncertainty.
What global banks predict for gold
Major financial institutions significantly upgraded their gold price outlooks, citing strong investment demand and continued central bank buying.
- UBS raised its gold price target to $6,200 an ounce for March, June and September 2026, up from $5,000, driven by stronger-than-expected investment inflows. However, the bank expects prices to fall slightly to $5,900 an ounce by the end of 2026 after the mid-year U.S. election.
- Deutsche Bank believes gold could reach $6,000 an ounce in 2026, supported by continued investor interest and increased allocations to non-dollar and real assets.
- Société Générale also expects gold to reach $6,000 an ounce, noting that its forecast could turn out to be conservative if bullish momentum persists.
Those revised projections came as spot gold hit a new lifetime high of $5,594.82 on Thursday. The precious metal has already rallied more than 20% in January, putting it on track for a sixth straight monthly gain and its strongest monthly performance since 1980.
A brief overview of key gold price predictions
- Deutsche Bank: $5,500-$6,000 in 2026
- Morgan Stanley: Base case $4,600; $5,700 bull case in H2 2026
- Goldman Sachs: $5,400 by December 2026
- Citi Research: Short-term target raised to $5,000
- JP Morgan: $5,055 average by Q4 2026
- HSBC: $4,450 by the end of 2026
- ANZ: $4,400 by the end of 2026; $4,600 by June 2026
With economic uncertainty, geopolitical risks and changing global investment patterns, gold’s trajectory towards 2026 remains firmly in the focus of investors around the world.
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