Precious Metal Price Forecasts 2026: Gold, Silver Platinum and Palladium

BullionVault's December 2025 survey of 1,532 precious metals investors forecasts that gold will average $5,136/oz by December 2026, reflecting strong bullish expectations amid ongoing geopolitical tensions and monetary policy dynamics. Over 27% of respondents cite geopolitical risks such as Middle East conflicts and US-China tensions as the primary price drivers, with government spending and monetary policy also significant. The report contrasts sharply with the previous year’s forecasts: investors anticipated gold at $3,070/oz for December 2025, but the average price realized was $4,301/oz, highlighting the difficulty in predicting short-term gold movements due to diverse factors including interest rates, inflation, exchange rates, and stock market performance. Despite short-term fluctuations, gold remains the best performing asset of the 21st century, underscoring structural support for higher prices. Market participants should watch for evolving geopolitical events, central bank interest rate policies, and inflation trends as key near-term catalysts impacting gold. While short-term price volatility is expected, the broadly optimistic outlook suggests potential for upward price momentum towards and possibly beyond the $5,000/oz level in the coming year. Traders should consider buying opportunities on dips amid this strong structural bullishness. The report underscores inherent forecasting uncertainties and the influence of broad macroeconomic and geopolitical variables, advising caution on exact timing but signaling a robust bullish longer-term price trajectory for gold through 2026.