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The Emirates News Agency reported that gold prices edged lower on Monday with spot gold easing as the US dollar firmed against major currencies in early trading. Market data cited by the agency placed the metal around recent levels after a fractional decline from the previous close while futures contracts followed a similar path. This movement occurred as traders assessed prospects for upcoming US inflation readings and labor market updates that could influence Federal Reserve policy expectations.
A Kitco News summary of Goldman Sachs research indicated that sovereign demand will continue to support gold with the bank maintaining a forecast near 4,900 dollars per ounce by the end of 2026. The analysis highlighted central bank diversification as a key driver even after recent price corrections from earlier highs above 5,500 dollars. Goldman Sachs researchers noted that monthly central bank purchases are expected to average around 60 tonnes through the remainder of the year.
World Gold Council figures show that total gold demand including over-the-counter activity held steady at 1,269 tonnes in the second quarter of 2026 matching the year-earlier period. The council reported that first-half demand climbed two percent to 2,522 tonnes while the value surged to a record 380 billion dollars due to elevated prices. Central banks added 289 tonnes in the second quarter according to the same data which helped offset softer jewellery and exchange-traded fund flows.
RBC Capital Markets noted in a September analysis that gold is poised to approach 5,000 dollars per ounce by year-end with a further rise to 5,300 dollars seen for 2027. The bank’s commodity strategy director attributed the outlook to renewed focus on uncertainty de-dollarization and concerns over currency debasement. RBC forecasts emphasize that structural factors remain intact despite periodic pullbacks such as the one observed on Monday.
Deutsche Bank adjusted its 2026 projections downward citing reduced investor demand with expectations now at 4,300 dollars for the third quarter and 4,800 dollars in the fourth. The bank’s research pointed to resilient US macroeconomic data and shifts in Federal Reserve rate expectations as factors behind the revision. Deutsche Bank analysts nevertheless affirmed that central bank buying remains the most reliable pillar of support for prices.
Wells Fargo strategists maintained a bullish longer-term view raising their year-end 2026 target to between 5,300 and 5,500 dollars per ounce while projecting 5,800 to 6,000 dollars by the close of 2027. The bank described the forces behind the gold rally as structural rather than cyclical with persistent inflation risks and rising government debt playing central roles. Wells Fargo identified gold as one of its highest-conviction investment ideas even after the correction that followed January record highs.
