Commerzbank expects gold prices to climb sharply next year, forecasting the metal to reach $4,200 per ounce amid persistent inflation risks and rising geopolitical tensions.
The German lender’s bullish forecast, shared via PANews, highlights renewed demand for safe-haven assets as central banks diversify away from major currencies. Gold is currently trading near $2,650 per ounce, up about 28% year-to-date. If Commerzbank’s projection holds, it would mark the strongest annual gain since 2020.
The bank also sees upside in other precious metals, supported by both industrial use and investment flows:
| Metal | Current Price (USD/oz) | 12-Month Target (USD/oz) | Upside Potential |
|---|---|---|---|
| Gold | ~$2,650 | $4,200 | +58% |
| Silver | ~$31 | $50 | +61% |
| Platinum | ~$1,050 | $1,700 | +62% |
| Palladium | ~$1,100 | $1,400 | +27% |
Commerzbank analysts linked silver’s rally to booming demand from the solar and electronics industries, while platinum and palladium are expected to benefit from auto sector electrification and ongoing supply shortages in Russia and South Africa.
The bank also pointed to U.S. interest rate cuts and election-driven policy uncertainty as key drivers for higher metal prices in 2026.
Analysts said investors could see stronger ETF inflows into commodities if prices break above $2,700 per ounce, signaling confirmation of a continued uptrend.
