Deutsche Bank predicts gold price explosion: $5K in 2026, breaking the record in 2027.

Deutsche Bank analyst Hsueh's latest prediction is off the charts—gold prices are expected to reach $4,950/ounce next year and soar to $5,150 in the following year. This surge is somewhat outrageous; after a 10% drop from the October high, it has recovered half of that loss and is now hitting new highs, breaking a 30-year historical pattern.

The logic behind it is clear: global central banks are frantically accumulating gold (220 tons in Q3), treating gold as the last bastion against black swan events. The most absurd part is that gold prices have seen the highest volatility in over 40 years this year, but the increase is not due to the depreciation of the dollar, which is what truly deserves attention.

The signal to increase has arrived - Gold ETFs have seen a net inflow for the first time in 4 years, and the market is rotating its chips. Global gold mining capacity is also unable to keep up (expected to be 3,693 tons this year), leading to a persistent supply-demand imbalance. The support level at $3,900 is holding steady, and January and February have traditionally been strong seasonal periods for gold prices.

In simple terms: institutions are banding together, supply is tight, and the central bank is stepping in. This wave of gold prices is not speculation, but a major trend.