Gold Forecast Natixis

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Gold Forecast Natixis

Gold (Xau/Usd) Forecast For 2026 - Natixis

Natixis has issued $3850 as the target for the Gold (XAU/USD) in 2026. This comes at a time when Gold is trading higher than the target from Natixis.

The year 2025 was exceptional for Gold, and there's no doubt about it. Gold started the year near $2600 and is now trading near the $4K handle.

Gold Rally Not Driven By Fundamentals

But, Natixis believes the rally in the Gold was driven by rate expectations, political risk, and sentiment shift. So, it was not actually driven by any major change in the Gold market.

That's why Natixis is of the view that the rally will not go any higher in 2026. In fact, they believe that the yellow metal will go into consolidation with an average price of $3850 in 2026.

key driver for Gold's rally this year was mainly the tariff announcements. This was followed by the Fed's rate cuts, and then came the US government shutdown.

All of these factors created an ideal situation for the Gold, which sent the precious metal towards new highs. But if no major shock event happens in 2026, then there will be no reason for Gold to rally.

Also, Natixis commented on how the demand for Gold from the central banks is also expected to go down. At the same time, the demand for jewellery is also expected to decline.

So in 2026, the demand for Gold will decline, and it will eventually show up in the Gold prices. With all things considered, the bank believes that Gold prices will stabilise near the $3850 handle.

But if the Gold turns bearish, then the most probable target will be $3450 in the long term. But if the demand takes a major hit, then Gold can also revisit the $2800 level.

According to one expert, there's a chance that Gold may decline all the way to $1800-$2000. But below that, there's strong support, which means Gold will stabilise near these levels.

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