NDB Wealth Management expects gold to trade between US$4,200 and US$5,000 an ounce over the next 12–24 months, a base case it assigns a 50% probability, as central bank purchases and Asian investor demand increasingly drive prices rather than US interest rate moves. Gold was trading at US$4,118.91 an ounce, down 0.14%, though it has kept gaining 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, their strongest first half on record, even as North American funds recorded outflows of about 61 tonnes. The World Gold Council projects around 850 tonnes of central bank buying in 2026, and mine output is forecast to rise only 2.4% to 3,907 tonnes. A lasting peace in the Gulf, easing inflation or a pause in US rate hikes could push prices lower, while concerns over US fiscal health and Fed independence could lift them further.
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Related tickers and likely impact
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% |
XAU/USD
▲ Likely positiveRelevance: medium
| Market | Gold |
|---|---|
| Close on 10/20/2026 | 4,125.21 |
| Change that session | -0.38% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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