Gold Rally 2026: Wall Street Forecasts, Fed Risks, and Reserve Diversification - deVere Group

AI desk brief

Gold is being framed as structurally supported by central-bank buying and reserve diversification, with deVere’s Nigel Green saying prices could reach $5,000/oz before year-end. The piece cites gold rising from about $4,000 at the start of August to a three-month high of $4,696 before easing back to around $4,400 as of Sept. 7, while July central-bank net buying was reported at 23 tonnes, including 8 tonnes from Poland and a first gold purchase by the Bank of Korea in 13 years worth roughly $250 million.

Near-term direction is tied to August CPI on Sept. 11 and the FOMC meeting on Sept. 16, with traders also watching the Fed after comments seen as more hawkish and renewed dollar strength. Bullish arguments center on persistent official-sector demand, currency debasement fears and geopolitical risk, while downside risks include a hawkish Fed and any further dollar support from Iran-related energy-market stress.