RBC tips gold price to soar higher in 2026, ASX miners on takeover watch

Investment bank RBC Capital is calling for gold to extend its bull run to US$3,195 an ounce in 2026 as the safe-haven asset jumped to a record US$3,104 an ounce on Monday morning. 

"We still view gold’s price patterns as tied to tariffs for now," RBC told investors on Monday. 

"Gold continues to price on the basis of uncertainty, and particularly tariff uncertainty in our view. While economic concerns are rising, vibes and sentiment are deteriorating, and recession probabilities have risen to ~36% [according to] Polymarket, Bloomberg."

Global investors hate the idea of US protectionism, with Japan's Nikkei 225 Index down nearly 4% on Monday as Asian stocks were dumped and capital rotated into a bond market rally. 

Another area to hide from a coming storm might be the gold space, as the metal's record-breaking rally leaves miners flush with cash thanks to a price now near $5000 Australian dollars an ounce. 

The rising price goes hand in hand with acquisitive activity as Ramelius Resources (ASX: RMS) and Spartan Resources (ASX: SPR) announced merger plans on March 17.  Meanwhile, Gold Road (ASX: GOR) recently rejected a $3.3 billion takeover bid from South Africa's Gold Fields as suggested by Livewire back on February 4.

Several other gold miners are touted as takeover targets by market sources right now, so let's look at a few candidates that might offer investors quick profits. 

Magnetic Resources

First up is West Australian explorer Magnetic Resources (ASX: MAU). It's developing the Lady Julie resource near Laverton, where bigger players like AngloGold Ashanti, Gold Fields, Genesis Minerals (ASX: GMD) Dacian Gold (ASX: DCN) have projects. 

Some of the larger players have reportedly kicked the tyres on the Lady Julie project and any bid is likely to be at a premium. 

Magnetic stock has added 55% over the past year and at $1.46 per share it boasts a market cap of around $390 million. 

Antipa Minerals 

Second up is another WA junior in Antipa Minerals (ASX: AZY). Its Minyari Dome Gold Project has an estimated 2.9 million ounces of gold and it's tipped to catch a potential bid from fellow West Australian miner Greatland Gold. 

Greatland is listed on the London Stock Exchange and is planning a cross listing on the ASX in the June quarter in a move that could help it unlock a rumoured bid for Antipa. 

The deal is being mooted largely because Antipa's resource is only around 30 kilometres from those of Greatland. 

Vault Minerals

Finally, fund manager Emmanuel Datt of the Datt Capital Small Companies Fund reckons Vault Minerals (ASX: VAU) is likely to tie-up with fellow West Australian miner Genesis Minerals (ASX: GMD). 

However, Genesis' founder and gold mining entrepreneur Raleigh Finlayson has previously hosed down talk it might make a bid for Vault. 

Still, some say there's no smoke without fire, so it could be a case of 'watch this space'. In general most professional investors would advise against buying a stock just on the hope it might catch a takeover bid, although 

More generally the gold sector and investors are in a Trumpian sweet spot as the US President spreads geopolitical chaos and also works towards lowering the US dollar and benchmark interest rates - adding to tailwinds for the precious metal.