BofA Sees Gold Heading for a Lost Year in 2026

Bank of America (BAC) has forecast a 'lost year' for gold in 2026, following the metal's stellar performance in 2025.

Details

According to a research note from Bank of America, the yellow metal, which surged approximately 63% in 2025 according to LBMA benchmark data (its strongest annual gain in over four decades), may face headwinds in the new year.

Context

At the start of 2026, expectations were that gold would continue its safe-haven rally, but the bank believes the factors that supported the massive 2025 rally are beginning to fade.

What This Means for Investors

Investors should temper their expectations for gold in 2026, as the metal may not replicate the exceptional gains of the previous year.