Some Banks See $5,000 Gold in 2026, Others Settle for $4,200 but We See Higher Potential

Analysts at Germany’s Commerzbank and Switzerland’s UBS are now projecting $4,200 gold in 2026, given “ongoing political uncertainty and weak economic activity.” They appear to be a little late to the game, as usual, since gold again surpassed $4,200 on Wednesday. 

10-Month (and October) Market Summary

Both gold and silver gained 3.7% last month, slightly more than the Dow and S&P 500 gains.

The Gold (and Coin) Bull Market of 1976-80 Began in the Bicentennial Year (1976) – And America’s 250^th Birthday Could Fuel a Similar Bonanza in Coins and Metals

Gold reached a low of barely $100 per ounce in September 1976, just after America’s 200th birthday and just before the election of Jimmy Carter, who defeated the incumbent, Gerald Ford.  From that $103 base price, gold multiplied more than eightfold over the next 3.25 years, to $850 in January 1980.

Gold Sees a Much-Needed Price Correction, So we can “Buy on Dips”!

On Tuesday, October 21st, investors sold off gold by over $200 per ounce (-5%). Is this cause for concern?

No. For several months now, I have wondered why gold has not suffered any significant price correction like this during a year of 50%+ price gains – the best yearly performance by gold in any full year since 1979, when gold more than doubled.

Gold is Now Up 200-Fold (nearly 20,000%) Since FDR’s 1933 Gold Grab

The Federal Reserve is now over a century old and it’s hard to see any bright side in its track record. At first, the Fed fueled deflation and caused – then prolonged – the Great Depression. Then, they fell into the opposite ditch, fueling too much inflation from the 1960s onward, often due to political pressure to create an artificial sort of growth, in nominal (but not real) terms.

Gold Tops $4,000 – Doubling in Under 2 Years

On Tuesday, October 7, gold on the futures market pierced the $4,000 level. Gold did not reach $3,000 until mid-March 2025, and now it has crossed $4,049 – less than seven months later.

Wall Street Keeps “Chasing” the Gold Price with “Revised” Predictions

Jeffrey Gundlach, the Founder and CEO of DoubleLine Capital, was crowned as the “bond king” of Wall Street by Barron’s back in 2011, but lately he clearly favors gold over most bonds. When gold first crossed $3,000 this year, he predicted $4,000 gold, while saying an investment portfolio with 25% in gold is “not excessive.” Like I have done for years, he is now describing gold as an “insurance policy.”

Don’t Sell Your Rare Coins in the Fourth Quarter of the Year - (Wait until February for Typically Better Selling Prices)

As the season just turned into autumn and the year’s final quarter begins next week, this is a good time to remind all clients and coin investors everywhere of a profitable “tip” for the season ahead.

The Case for $7,000 Gold in 2026 – and $10,000 By 2030

Some new trends, if continued, could result in a doubling of gold prices to $7,000 next year and a potential tripling to $10,000 or more within five years. These trends are led by institutional demand – central banks trading their eroding paper dollars for gold and private demand through both gold ETFs and the physical metal.

Wall Street is Finally Getting on the Gold Bandwagon

Last week, Goldman Sachs, the major Wall Street financial institution, forecasted that the gold price could rise just as fast in the next 12 months as in the previous 12 months. The firm predicted prices of $4,500 and beyond in 2026, perhaps reaching $5,000 if “certain conditions” are met.