NDB Wealth says gold could reach $4,200-$5,000 within 2 years
Gold might be heading for a big jump: NDB Wealth thinks it could reach $4,200 to $5,000 per ounce within the next two years.
The main reason? Asian investors and central banks are buying gold in strong volumes, which is pushing prices up even though US interest rates usually have a say.
Right now, gold sits at $4,118.91 per ounce.
Central banks diversify reserves with gold
Central banks bought 289 tons of gold in the second quarter of 2026, and Asian funds added nearly 70 tons in the first half of 2026. It's all part of a move to rely less on the US dollar.
With global mine production barely growing (just 2.4% expected this year), supply is tight, which helps keep prices high.
NDB Wealth said central banks are buying gold primarily to diversify their reserves and reduce dependence on the US dollar.
The World Gold Council is projecting around 850 tons of central bank buying in 2026.