Natixis Raises Gold Price Target to $5,000 Amid US Debt and Bond Market Concerns

Natixis analyst Bernard Dahdah has updated his outlook, lifting the year-end gold price target to $5,000 an ounce from the previous $4,600. The metal has held above $4,000 and is on course for a nearly 15% monthly gain, its strongest since September 1999.

The rally began in early August after soft data shifted rate-cut expectations. Fresh support arrived when the US Treasury doubled buybacks of 10- and 30-year bonds to $4 billion as debt surpassed $40 trillion.

Dahdah noted that fiscal and bond-market stability worries are supporting gold despite higher opportunity costs. He expects gold to average $5,000 through 2027 and silver around $78 next year.