BAKU, Azerbaijan, November 11. ING Group, the largest banking group in the Netherlands, forecasts that the price of a troy ounce of gold on the global market will average $4,408 in 2026 and $4,375 in 2027.
The projections are based on ING Group’s commodity market forecasts dated November 10.
According to the forecasts, the average price of a troy ounce of gold will be $4,100 in the third quarter of 2026 and $4,150 in the fourth quarter.
The precious metal is expected to continue rising in price in 2027. Specifically, the average price of gold is forecast to be $4,200 in Q1, $4,300 in Q2, $4,450 in Q3, and $4,550 in Q4.
The price of silver is also expected to grow. According to ING Group's forecast, the price of a troy ounce of silver will average $69.5 in 2026 and $66.5 in 2027. Based on quarterly projections, the price of silver is expected to reach $62 in Q1 2027, $65 in Q2 2027, $68 in Q3 2027, and $71 in Q4 2027.
Additionally, ING Group has released forecasts regarding the prices of other industrial metals.
According to these projections, the price per ton of copper is expected to average $13,370 in 2026 and $13,550 in 2027. Aluminum prices are projected to be $3,255 and $2,888, respectively; nickel at $17,082 and $16,625; zinc at $3,560 and $3,612; and lead at $1,923 and $1,900.
The price per ton of iron ore is forecast to average $98 in 2026 and $95 in 2027.
Thus, ING Group’s forecasts indicate that the upward trend in gold prices will continue throughout 2027, while the annual average price of silver is expected to be lower than in 2026. Among other industrial metals, an increase is expected for copper and zinc, while a decrease is anticipated for aluminum, nickel, and lead.
