It is true that shares on most stock exchanges go up on Monday, but outside the stock exchanges of South Korea and Japan the increases do not exceed 0.4 percent that day. The European Euro Stoxx 50 is growing by 0.3%. In the case of gold, there is even a decline.
A precious metal cheaper on Monday in futures contracts by 0.5%. up to $4,716 per ounce. Interestingly, all this comes in the face of improving gold price forecasts among analysts.
A Reuters poll of 31 analysts and traders conducted over the past three weeks gave a median gold price forecast of $4,916 per troy ounce for 2026. This is the highest annual forecast in Reuters polls dating back to 2012.
The previous survey gave a valuation of $4,746. The forecast increased by 3.6%.
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“If the war ends peacefully, there will likely be an increase in prices, and there are favorable factors that could keep prices stable. But the $5,500 level has been too high before and will likely be again,” StoneX analyst Rhona O'Connell told Reuters.
Gold's role as a hedge against inflation is currently being questioned by expectations of a hawkish monetary policy response to rising energy prices. Rising interest rates usually cause a metal that does not generate income to lose value.
Analysts believe factors driving gold prices higher, including large purchases by central banks, rising U.S. debt and currency devaluation, will continue to support gold in 2026.
“The incentive for central banks to acquire gold is probably stronger than ever, and events in the Middle East have only reinforced the sense of vulnerability to the risks associated with dollar assets. In short, gold looks positive, but in a more moderate way,” independent analyst Ross Norman told Reuters.
Silver Forecasts
However, the forecasts for silver went the other way. While a month ago analysts predicted USD 79.50, now the median forecast is USD 78.
Analysts interviewed by Reuters claim that the $100 attack it will still happen, but only when the war comes to an end. Here, a significant part of demand comes from industry and economic growth drives the price of silver.
