TD Securities has significantly upgraded its outlook for Gold, projecting an annual average price of $4,831/oz for 2026, an increase of $619/oz from previous estimates. The report also anticipates transitory trading highs of $5,400/oz for Gold in the first half of 2026. This bullish sentiment extends to other precious metals as well, with similar upgrades across the board.

Significant upgrades for precious metals

“The TD Securities Strategy team has materially upgraded the outlook for gold, silver, platinum, palladium, copper, aluminium and natural gas, from our already bullish previous projections.”

“The 2026 average annual price outlook for the precious metals complex has been materially upgraded across the board.”

“We see transitory trading highs of $5,400/oz for gold in the first half of 2026.”

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