German bank Commerzbank has lowered its year-end 2026 gold price target to $4,800 per ounce from $5,000. With spot gold trading around $4,484 in early June, this forecast implies approximately 8% upside potential. This revision is driven by rising oil prices and the expected tightening of the Federal Reserve’s monetary policy. Several major banks, including Goldman Sachs, Bank of America, HSBC and JPMorgan, have also revised their near-term gold forecasts downward, with targets now ranging between $4,300 and $4,900 for late 2026. Commerzbank’s 2027 target remains unchanged at $5,200, suggesting the bank views current headwinds as temporary.
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