Gold to hit US$3,600 in second rally of 2025, and stay there through 2026: CIBC

Gold bars, photo
CIBC says uncertainty around the world this year is boosting the appeal of alternative reserve asset. (GETTY) · ASSOCIATED PRESS

The price of gold is forecast to hit a new all-time high of US$3,600 per ounce in the second half of 2025, and stay there through next year. That’s according to CIBC Capital Markets analysts expecting an encore to early 2025’s record-breaking rally.

The spot price of bullion (GC=F) has climbed about 28 per cent year-to-date. Gold set a fresh record trading high at about US$3,500 per ounce in late April. Since then, prices have pulled back to the US$3,300-range.

CIBC analyst Anita Soni says a banquet of uncertainty around the world this year is boosting the appeal of alternative reserve assets. Last December, her team predicted gold prices would average $2,800 per ounce in 2025.

“In that seven months, U.S. President Trump has taken office, initiated a global trade war and implemented several protective tariffs impacting goods imported into the United States, and threatened and backed off from multitudes more,” Soni wrote in a recent report.

“Geopolitical tensions in the Middle East and Russia remain elevated,” she added. “All this uncertainty has led to the acceleration of de-dollarization, supporting gold prices.”

CIBC Capital Markets now expects bullion to average US$3,600 per ounce in the second half of 2025, and through 2026. In 2027, the bank forecasts US$3,300 per ounce, falling to US$3,000 in 2028.

On Monday, the Toronto-based bank boosted its price targets for 36 Canadian gold stocks, citing expectations for lower interest rates, geopolitical uncertainty, and continued stockpiling by central banks among expected tailwinds for the precious metal.

“We continue to expect a positive macroeconomic setup for gold,” Soni wrote. “We believe [U.S.] rate cuts are likely and it’s a matter of ‘when and how fast’, and not ‘if.’”

CIBCs top stock picks in the sector are Agnico Eagle Mines (AEM.TO), Kinross Gold (K.TO), Alamos Gold (AGI.TO), Franco-Nevada (FNV), and Discovery Silver (DSV.TO).

Jeff Lagerquist is a senior reporter at Yahoo Finance Canada. Follow him on X @jefflagerquist.

Download the Yahoo Finance app, available for Apple and Android.



Source link

Visited 1 times, 1 visit(s) today

Related Article

3 reasons why the Pacific Ocean tsunami fizzled before reaching WA

3 reasons why the Pacific Ocean tsunami fizzled before reaching WA

Climate Lab is a Seattle Times initiative that explores the effects of climate change in the Pacific Northwest and beyond. The project is funded in part by The Bullitt Foundation, CO2 Foundation, Jim and Birte Falconer, Mike and Becky Hughes, Henry M. Jackson Foundation, Martin-Fabert Foundation, Craig McKibben and Sarah Merner, University of Washington and

Investor AI Worries Still Haven’t Pushed Stock To $190, Says Jim Cramer

We recently published 10 Stocks On Jim Cramer’s Mind As He Discussed A “Weird Number”. Apple Inc. (NASDAQ:AAPL) is one of the stocks Jim Cramer recently discussed. Apple Inc. (NASDAQ:AAPL), the world’s largest technology company, has seen little love from Wall Street in 2025. The firm’s shares have lost 13% year-to-date as investors remain skeptical

An illuminated large building at night is reflected in a calm body of water, showcasing its architectural design

Maria Shriver’s Tweet About Renaming The Kennedy Center Is Going Super Viral

Last week, Republicans advanced an amendment that would rename the “John F. Kennedy Opera House” to the “First Lady Melania Trump Opera House.” Beecoolphoto / Getty Images Yeeep, the “First Lady Melania Trump Opera House.” Win Mcnamee / Getty Images Related: Here Are 16 Actors Who Saved Their Skin By Turning Down Roles In Movies

Why did the Russian mega earthquake not cause more tsunami damage?

Why did the Russian mega earthquake not cause more tsunami damage?

Esme Stallard and Mark Poynting BBC News Climate and Science S. Lakamov/Anadolu/Getty Images Debris in Russia’s Kamchatka Peninsula after a 8.8 magnitude earthquake It has been one of the strongest earthquakes ever recorded – but so far has not brought the catastrophic tsunami that many feared. When the 8.8-magnitude quake struck eastern Russia at 11:25

NTSB finds Army chopper in fatal midair crash was above altitude limit

Investigators probing the January midair collision of a passenger plane and an Army helicopter over Washington that killed 67 people found the chopper was flying higher than it should have been and the altitude readings were inaccurate. The details came out of the first day of National Transportation Safety Board hearings in Washington, where investigators

BRIGADIER-GENERAL Esmail Qaani, the head of the Revolutionary Guards Quds Force. T (credit: WEST ASIA NEWS AGENCY/REUTERS)

IRGC chief visits Baghdad over fears of Iraqi instability

Qaani met with top Shiite leaders in Baghdad to contain internal splits and preserve Iran’s influence in Iraq ahead of parliamentary elections. Iranian Islamic Revolutionary Guard Corps Quds Force chief Esmail Qaani recently made a secretive visit to Iraq. This is according to a new report in Al-Ain media in the UAE. This media outlet