A growing number of institutional investors are treating gold as a long-term core holding, and one major bank has now adjusted its forecasts to reflect that shift. Deutsche Bank has raised its 2026 gold price forecast from $4,000 to $4,450 per ounce, pointing to what it calls a structurally positive outlook for the metal.
Central banks are continuing to buy at a strong pace, absorbing a significant portion of new supply. At the same time, flows into gold-backed ETFs have stabilised after several years of decline. These two trends, central bank accumulation and renewed institutional buying, are tightening available supply and shifting how gold is priced.
Deutsche Bank also projects that gold could trade in a range between $3,900 and $4,950 per ounce in 2026. That upper bound represents meaningful upside from where futures are trading today. But the key message is not about price targets, it’s about the quality of demand. This is a strategic repositioning, particularly among institutions focused on diversification, capital preservation, and reducing exposure to correlated assets.
KEFI Gold and Copper plc (LON:KEFI) is an exploration and development company focused on gold and copper deposits in the highly prospective Arabian-Nubian Shield. The Company operates in Ethiopia and Saudi Arabia with projects including Tulu Kapi project, Jibal Qutman EL and Hawiah.
