Based on early 2026 market analysis, gold and silver are expected to continue their structural bull run, driven by central bank buying, geopolitical tensions, and industrial demand, although volatility remains high. 

Here is the one-year outlook for gold and silver price targets (primarily looking toward late 2026/early 2027 based on 2026 data):

Gold Price Analysis & Targets (1 Year)

Analysts are overwhelmingly bullish on gold, with most projecting it will maintain a strong, elevated position, acting as a hedge against global economic uncertainty. 

• Target: Major banks like JPMorgan, BofA, and UBS forecast gold to average $4,500 – $5,000 per ounce by the end of 2026.
• Aggressive Target: Some projections, including those from SocGen, suggest that in an upside, high-risk scenario, gold could reach $6,000 – $7,200 per ounce.
• India (MCX) Target: Domestically, analysts see gold potentially moving toward ₹1,50,000 – ₹1,75,000 per 10 grams by early 2026.
• Drivers: Consistent central bank purchasing, increased investment demand through ETFs, and de-dollarization trends. 

Silver Price Analysis & Targets (1 Year)

Silver has been experiencing a massive, record-setting rally in 2025-2026, outperforming gold due to its dual role as a precious metal and a critical industrial component. 

• Target: Conservative forecasts place silver in the $55–$65 per ounce range in 2026.
• Aggressive Target: Some analysts suggest silver could hit $75–$88 per ounce, with highly optimistic forecasts (e.g., Robert Kiyosaki) even mentioning $200 per ounce if the US dollar weakens severely.
• India (MCX) Target: Domestic prices are expected to range between ₹2,40,000 – ₹3,50,000 per kg.
• Drivers: Strong industrial demand from green technologies (solar panels, EVs, electronics), supply deficits, and China's export restrictions. 

Key Market Factors & Risks

• Volatility: While the trend is up, sharp corrections are possible, particularly if geopolitical tensions ease suddenly.
• Interest Rates: The Federal Reserve’s shift to a rate-cutting cycle in 2025–2026 is a major driver, reducing the appeal of bonds and boosting non-yielding bullion.
• Gold/Silver Ratio: The ratio has been falling, signaling that silver could outperform gold in terms of percentage gains in 2026.