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Christopher Louney predicts gold prices will reach a high of $4,929 per ounce by 2026.

Christopher Louney, Director of Global Commodity Strategy and MENA Research at RBC Capital Markets, stated that gold prices are expected to rise toward a range of $4,500 to $5,000 per ounce for the remainder of the year. Louney noted that geopolitical instability, global de-dollarization, and concerns regarding U.S. dollar debasement are primary drivers for these higher prices.

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He indicated that while underlying drivers for gold may have been on pause, they remain intact. Louney highlighted that persistent uncertainty regarding tariffs, geopolitics, and government shutdowns has left investors feeling underexposed to gold. He expects central banks to remain the backbone of gold demand through 2026. For the long term, Louney favors a high scenario for gold prices, projecting a price of $4,929 per ounce by 2026 and $5,296 per ounce by 2027. He stated that gold has proven itself as a strategic part of portfolios due to its strong price performance and lower correlations.

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