NDB Wealth Management says gold could stay at USD 4,200–5,000 per ounce over the next 12–24 months as central bank purchases and strong Asian demand increasingly drive the market, reducing the influence of US rate moves. Gold was trading at USD 4,118.91 per ounce when the report was filed, down USD 5.82 or 0.14 per cent. Central banks bought 289 tonnes in Q2 2026, and Asian gold funds saw net inflows of nearly 70 tonnes in the first half, while North American gold funds had outflows of around 61 tonnes. The World Gold Council projects about 850 tonnes of central bank buying in 2026, close to 863 tonnes in 2025, while global mine output is forecast to rise just 2.4 per cent to 3,907 tonnes. The base-case scenario, given a 50 per cent probability, sees prices between USD 4,200 and USD 5,000 per ounce.
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Related tickers and likely impact
XAU/USD
▲ Likely positiveRelevance: medium
| Market | Gold |
|---|---|
| Close on 10/20/2026 | 4,125.21 |
| Change that session | -0.38% |
PAXG/USDT
▲ Likely positivePAX Gold
Relevance: medium
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Real-world assets |
| Market cap | $1.8B |
| Close on 10/20/2026 | 4,122.25 |
| Change that session | -0.28% |
XAUT/USDT
▲ Likely positiveTether Gold
Relevance: medium
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Real-world assets |
| Market cap | $3.4B |
| Close on 10/20/2026 | 4,116.60 |
| Change that session | -0.42% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
Related news
- Gold may trade up to USD 5,000/oz over next two years as central banks sustain demand: Report
NDB Wealth Management says gold could stay at USD 4,200-5,000 per ounce over the next 12-24 months, as central bank buying and strong Asian demand increasingly drive the market rather than US interest rates. At filing, gold traded at USD 4,118.91 per ounce, down 0.14 per cent, yet it has kept rising despite higher US rates, persistent inflation and a firmer dollar. Central banks bought 289 tonnes in the second quarter of 2026, while Asian gold funds saw net inflows of nearly 70 tonnes in the first half, a record, and North American funds saw outflows of around 61 tonnes. The World Gold Council projects about 850 tonnes of central bank buying in 2026, while global mine output is forecast to rise just 2.4% to 3,907 tonnes. The base case, given a 50 per cent probability, sees gold at USD 4,200-5,000 per ounce; a lasting Gulf peace, easing inflation or a pause in US rate hikes could push prices lower, while US fiscal concerns could drive gains.
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