According to the latest institutional forecasts, gold and silver are expected to maintain a bullish trend overall in 2026, but silver is more elastic and more volatile. The following are the core target ranges and key nodes:

$XAU Gold

Core target: $6300/ounce (J.P. Morgan's target price by the end of 2026).

Institution consensus: UBS raised its target to $6200 (mid-year), Bank of America is optimistic about $6000, Goldman Sachs targets $5400.

- Current market: Spot gold has recently fluctuated between $5100 and $5200, leaving room for upward movement towards institutional targets.

- Key level: If it effectively stabilizes above $5300, it will initiate accelerated upward movement, with the first target aiming directly at $5500.

$XAG Silver

Core target: $100/ounce (Bank of America optimistic about a breakthrough this year), Goldman Sachs optimistic about hitting $120 in Q2.

- Institutional consensus: UBS expects to explore $100 in the first half of the year.

- Current market: Spot silver recently around $90, in a high volatility period.

- Key features: Silver volatility is greater than gold, and against the backdrop of the gold-silver ratio recovery, the increase is expected to far exceed that of gold.