July 8 (Reuters) - Brokerages continue to see bullish trends for gold in their long-term outlooks, even as price declines due to increased rate hike bets, inflation concerns, and a stronger dollar and oil price forced some banks to cut near-term price views.

On Tuesday, Bank of America said it is reducing its 2026 average gold forecast by 14% to $4,360 an ounce, citing a more hawkish Federal Reserve.

However, the research bank said it still sees $5,000 an ounce in reach for gold once the Fed's tightening cycle ends.

BofA's downward revision comes after JPMorgan last week said the risks to its gold forecast skew to the downside given possible early interest rate hikes by the U.S. Fed, while it retains a long-term bullish view into 2027.

Spot gold was down more than 1% on Wednesday, and was trading near $4,060 an ounce. [GOL/]

Following is a list of analysts' latest gold price forecasts (in $ per ounce):

Brokerage/Ag Annual Price Targets  Forecast

ency Price as of

Forecas

t

  2026    

Bank of $4,360 Sees $5,000/oz in reach July 7,

America once Fed's tightening 2026

cycle ends

JPMorgan $4,545 Expects prices to July 2,

average $4,300/oz in 2026

3Q26 and $4,500/oz in

4Q26

Goldman - $4,900 by December 2026 June 18,

Sachs  2026

ANZ* $5,600 Defers $6,000/oz gold May 15,

target to mid-2027 from 2026

early 2027

Macquarie $4,323  Expects prices to February

Group average $4,590 in first 5, 2026

quarter and $4,300 in

second quarter 

Wells Fargo   Expects $6,100-$6,300 by February

Investment end of 2026 4, 2026

Institute

UBS - Raises target to $6,200 January

for March, 29, 2026

June, and September 2026

Deutsche $5,500 $6,000 in 2026 January

Bank 26, 2026

Societe - $6,000 by the end of January

Generale 2026 26, 2026

Morgan $4,600 Bull case is $5,700 for January

Stanley second half of 2026 23, 2026

Citi $5,000 Raises 0-3 month price January

Research target to $5,000  13, 2026

HSBC $4,587 $4,450 by year-end 2026 January 8,

2026

ANZ $4,445 $4,400 by year-end and October

$4,600 by June 2026 16, 2025

Standard $4,488  - October

Chartered 13, 2025

Commerzbank $4,900 $4,800 by mid-2026 January

13, 2026

*end-of-period forecasts

(Reporting by Anjana Anil and Sukanya Mitra in Bengaluru; Editing by Jan Harvey)