Gold Prices Drop as Global Banks Reveal 2026 Forecasts
The gold market has entered a downward trend after a strong rally. In the Istanbul Precious Metals Exchange, the price of one kilogram of standard gold fell by 1.3% to ₺5.585 million. Major international banks have now released their forecasts for 2026.
Domestic Market Sees Continued Decline
Data from the Istanbul Precious Metals and Gems Market (KMKTP) showed that gold prices ranged between ₺5.382 million and ₺5.625 million before closing at ₺5.585 million. The total trading volume exceeded ₺4 billion.
Global Banks’ 2026 Gold Projections
The World Bank maintained its 2026 average gold forecast at $3,575. Goldman Sachs raised its Q4 2026 forecast from $4,900 to $5,055.
Other Financial Institutions’ Outlooks
Citi projected a short-term target of $3,840, while Morgan Stanley set its midyear forecast at $4,500. Wells Fargo expects a range between $4,500–4,700. UBS anticipates gold to reach $4,700 by March 2026, while HSBC, Bank of America, and Societe Generale foresee prices near $5,000 by year-end.
Long-Term Expectations
JPMorgan expects an average of $5,055 in Q4 2026, with a long-term projection of $6,000. Analysts emphasize that inflation, interest rates, and monetary policies will continue to shape the global gold market.
