11.02.2026 19:01
As the gold market started 2026 with records, a recovery was observed after a sharp decline, while the world's leading banks indicated levels of 6,000 dollars and above for gold per ounce by the end of the year. According to banking giants Deutsche Bank, BNP Paribas, Societe Generale, JP Morgan, and Wells Fargo, global uncertainties will continue to keep gold strong.
Entering 2026 with a rapid rise, gold set historical records both in grams and ounces. While the gram gold exceeded 7,800 liras, the ounce price also surpassed the 5,500 dollar level, reaching an all-time high. However, after this peak, a sharp pullback occurred in the first days of February.
FAST RETREAT AFTER THE PEAK, FOLLOWED BY RECOVERY
After the record levels, gram gold lost about 1,600 liras, while ounce gold lost around 1,100 dollars. Following the decline, a recovery process began in the market. The price of gram gold rose again above 7,000 liras, while ounce gold managed to stay above the 5,000 dollar band.
SEQUENTIAL YEAR-END FORECASTS FROM BANKS
While the fluctuations in gold prices, described as a 'safe haven', are in the focus of investors, leading banks around the world have announced their year-end predictions. Societe Generale, JP Morgan, Deutsche Bank, Wells Fargo, and BNP Paribas expressed a common expectation that high levels for ounce gold could continue.
The common point in the projections of the five major financial institutions was that ounce gold is expected to be positioned at 6,000 dollars and above by the end of 2026. The continuation of global risks and the strengthening demand for safe havens were cited as the main reasons for these expectations.
GERMAN AND FRENCH BANKS POINT TO THE SAME LEVEL
Germany-based Deutsche Bank forecasts ounce gold at the 6,000 dollar level for the year-end, while French BNP Paribas shared a similar prediction. The bank's commodity strategy managers emphasized that geopolitical developments and economic uncertainties keep interest in gold alive. Another leading bank in France, Societe Generale, also joined the institutions with a 6,000 dollar expectation.
US BANKS' PREDICTION IS HIGHER
US investment banks JP Morgan and Wells Fargo raised the bar higher. Both banks predicted a level of 6,300 dollars for ounce gold by the year-end.