TAIPEI (Taiwan News) — Taiwanese banks remain optimistic about gold prices in 2026, citing the metal’s continued role as a safe-haven asset as global uncertainties and geopolitical tensions persist, CTEE reported Sunday.

Gold prices rose roughly 65% in 2025, reaching NT$142,375.5 (US$4,500) per troy ounce. Taiwanese financial institutions have projected continued gains this year, though growth may be more moderate than in 2025.

First Commercial Bank said the factors supporting last year’s rise remain in place, but profit-taking could limit further gains and keep gold trading in a high range. The bank said renewed geopolitical or financial risks could push prices to around NT$174,014.5 per troy ounce.

Hua Nan Bank expects gold to peak in the fourth quarter, with prices potentially exceeding NT$148,701 per troy ounce.

Chang Hwa Bank forecasts an annual increase of 10%–15%, with a likely peak between NT$151,860 and NT$161,351 per troy ounce, possibly in the second quarter.

Bank of Taiwan said gold’s performance last year, including more than 50 record highs, continues to make it a valued asset for diversification and stability. It also cited short- and medium-term support levels at NT$131,295.6–NT$134,459 per troy ounce, with resistance at NT$139,205–NT$143,950, according to CTEE.

The bank pointed to ongoing geopolitical risks, including tensions in the Middle East and the US–Venezuela standoff. It also cited concerns over the stability of the US dollar and Treasury securities as factors supporting safe-haven demand.

Earlier in the year, international gold prices approached historical highs following US military operations involving Venezuela, highlighting the metal’s sensitivity to geopolitical developments. Expectations that some central banks may increase gold reserves were also cited as supportive.