Bob Bracket, a Wall Street analyst at Bernstein Research, raised his gold price targets for the end of the year and the second half of 2026. Bracket set the firm's 2027 gold price forecast at $4,533 per ounce, signaling a potential 10.9% upside from the asset's price of about $4,087.79 on July 10, and revised the second-half 2026 target to $4,375 per ounce, implying a possible 7.0% upside. The analyst cited strong demand for gold from global central banks led by the People's Bank of China, stable institutional support evidenced by limited outflows from gold ETFs, and anticipated Federal Reserve policy as key tailwinds. The revision comes amid a notable year-to-date sell-off, with gold dropping from its all-time high above $5,500 to about $4,087.83 at press time, impacting top gold mining stocks including Newmont Corp., Agnico Eagle Mines Limited, and Barrick Gold Corp.
Bernstein Research Raises 2027 Gold Price Target to $4,533 per Ounce
Bracket raised the firm's 2027 gold price forecast to $4,533 per ounce, signaling a potential 10.9% upside from the asset's price of about $4,087.79 on July 10. At the beginning of this month, the firm set its 2026 gold price target at $4,180 per ounce, but has since revised. Additionally, Bracket set the firm's second-half 2026 gold price target at $4,375 per ounce, implying a possible 7.0% upside over the coming months.
Central Bank Demand and Gold ETF Flows Support Upside Outlook
Bracket cited the strong demand for gold from global central banks, led by the People's Bank of China (PBOC). He further noted that the asset has strong institutional support, as evidenced by limited outflows from gold ETFs (exchange-traded funds). At press time, U.S. gold ETFs had approximately $282.21 billion in assets under management, according to data from ETF.com.
Federal Reserve Policy and Inflation Risk Influence Gold Forecast
Bracket noted that gold's selling pressure is likely to ease in the second half of 2026, as investors anticipate the Federal Reserve may avoid aggressive rate hikes despite fears of higher inflation. Brackett cautioned investors to remain vigilant about persistent inflation, as it could force higher interest rates. Higher Fed funds rates could increase selling pressure on the gold price, thereby limiting further upside.
Gold Mining Stocks Trapped in Bear Market Amid Year-to-Date Sell-Off
The bullish gold price forecast for 2026 comes amid a notable sell-off year to date, which has also impacted the gold mining stocks. The asset has dropped from its all-time high above $5,500 to about $4,087.83 at press time. The top gold mining stocks – including Newmont Corp. (NYSE: NEM), Agnico Eagle Mines Limited (NYSE: AEM) and Barrick Gold Corp. (NYSE: GOLD) – have all been trapped in a bear market. If Bracket's second-half price target for gold is met, gold mining stocks could follow suit.
FAQ
What is Bernstein Research's 2027 gold price target?
Bob Bracket at Bernstein Research set the firm's 2027 gold price forecast at $4,533 per ounce, signaling a potential 10.9% upside from the asset's price of about $4,087.79 on July 10.
Why did the analyst raise the gold price target for 2026?
Bracket cited strong demand for gold from global central banks led by the People's Bank of China, stable institutional support evidenced by limited outflows from gold ETFs with approximately $282.21 billion in assets under management, and anticipated Federal Reserve policy as key tailwinds for the upside outlook.
