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CommoditiesMedium•19 February 2026•

1 min read

BMO Forecasts Gold Near $6,500 by 2026 While Urging Caution on Silver

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

BMO Capital Markets analyst Amos has issued a bold forecast, predicting gold prices could surge to nearly $6,500 per ounce by 2026. The bank highlighted that the bullish case for gold is strengthening significantly, driving long-term price targets to new heights. However, the report also advised investors to maintain a cautious stance regarding silver despite the optimism surrounding gold. According to BMO, silver's specific market balance and supply-demand dynamics warrant a more prudent investment approach. This diverging outlook underscores the complexity of the precious metals market in the coming years. As one of the most aggressive targets in the industry, this forecast is expected to bolster long-term sentiment for XAU/USD and related instruments.