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CommoditiesMedium•17 February 2026•

1 min read

ANZ Bank Raises Gold Price Forecast to $5,800 per Ounce for Q2

World map with commodities like oil, gold, coffee, wheat, and metals, overlaid with an upward green arrow and financial charts.

ANZ Bank analysts have significantly upgraded their gold price outlook, projecting a surge to $5,800 per ounce in the second quarter. This new target represents a substantial increase from the bank's previous forecast of $5,400. The upward revision comes despite recent market volatility and the continued strength of the US dollar. Analysts identify expected interest rate cuts by major central banks as a primary catalyst for the precious metal's demand. Furthermore, the bank highlighted mounting global debt levels as a long-term inflationary pressure that supports gold's role as a safe-haven asset. This bullish stance underscores growing confidence in gold's fundamental value amid shifting macroeconomic conditions.