Bank of America has updated its forecast for gold, with some reports indicating a lifted 2026 forecast to $5,000 per ounce and a silver forecast of $65. However, there are conflicting reports, with one outlet suggesting the forecast was cut, and another predicting a higher target of $6,000 per ounce by spring 2026. Gold prices have recently surged, breaking $4,100 per ounce amid market volatility and trade tensions.