**[Deutsche Bank Forecast: Gold Prices Near $5,000 in 2026, Set to Break Historic Levels in 2027]** Golden Finance reports that Deutsche Bank predicts gold prices may approach $5,000 per ounce in 2026 and surpass this critical psychological threshold in 2027. Michael Hsueh, an analyst at the bank, pointed out that after the market completes its position clearing, the demand for gold purchases by central banks will persist. Coupled with the re-entry of exchange-traded funds (ETFs), gold prices are expected to climb to a high of $4,950 per ounce in 2026. In a report released on Wednesday, Michael raised his forecast for the average gold price next year from $4,000 per ounce to $4,450 per ounce. For 2027, he set a target of $5,150 per ounce. Although gold prices once fell about 10% from their October peak, they have now recovered half of the lost ground. The analyst observed that "gold is breaking historical patterns"—with price volatility in 2025 reaching its highest level since 1980. Back then, persistent concerns over inflation, fiat currency depreciation, and the spiraling rise of global debt drove gold prices to record highs. He particularly emphasized that the exceptional performance of gold this time is not solely due to the depreciation of the U.S. dollar, making it all the more remarkable.