6 days ago
Metals Focus Sees Gold Reaching $2,600 as Silver Gains
A precious-metals research company thinks gold and silver prices may keep rising.
It predicts gold could reach $2,600 for one ounce by the end of this year.
Gold has stayed close to $2,500 through August.
Weaker economic news from the United States may make investors expect fewer interest-rate increases.
When the dollar is pressured, some investors buy gold instead.
The company is even more hopeful about silver, which could reach about $90 before the end of 2026.
Central banks and investment funds have helped gold prices rise.
In India, shoppers are still interested in gold but are buying smaller or less pure pieces because prices are high.
Metals Focus forecasts gold could reach $2,600 per ounce by year-end and potentially test January’s record highs.
The firm expects weaker United States economic data and reduced rate-hike expectations to support gold prices.
Tariff tensions between the United States and Canada and midterm-election uncertainty could pressure the dollar, benefiting gold.
Metals Focus forecasts silver could reach about $90 per ounce before the end of 2026, with triple-digit prices possible in 2027.
Central-bank purchases, renewed exchange-traded fund buying and cautiously optimistic Indian festival demand are expected to support precious metals.
- Who
- Philip Newman, Managing Director of Metals Focus, provided the forecasts.
- What
- Metals Focus expects gold and silver prices to extend their gains, with gold potentially reaching $2,600 and silver about $90.
- Where
- The outlook concerns global precious-metals markets; Newman discussed it after attending the India Gold Conference in Goa.
- When
- The gold forecast is for the end of this year; the silver forecast is for before the end of 2026, with possible triple-digit prices in 2027.
- Why
- Weaker United States economic data, reduced expectations for Federal Reserve rate increases, possible dollar pressure, central-bank buying and future exchange-traded fund demand are cited as supports.
Key facts
- Gold target
- $2,600 per ounce by the end of this year
- Current gold level
- Near $2,500 per ounce through August
- Silver target
- Around $90 per ounce before the end of 2026
- Possible 2027 silver outcome
- Triple-digit prices are possible, but not Metals Focus’s base case
- Gold demand supports
- Central-bank purchases and exchange-traded fund buying
- Indian demand
- Festival demand is cautiously optimistic
- Buying pattern in Asia
- Consumers are shifting toward smaller, lighter pieces and slightly lower-purity jewellery
Quotes
Philip Newman
Managing Director at Metals Focus
“Do we think that it will hit the $120 per ounce level? Perhaps not, but... once silver does strengthen, and if trading gets a little bit thin, then it is a possibility.”
CNBC TV 18
“We had a relatively quiet first quarter to this year, but that was followed by an exceptionally strong second quarter in terms of those net central bank purchases”
CNBC TV 18
Sources
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