HSBC has cut its average gold price forecasts for 2026 and 2027, citing a hawkish shift in U.S. monetary policy expectations and a stronger dollar. The bank lowered its 2026 average gold price forecast to $4,560 per ounce from $4,864 and its 2027 forecast to $4,925 from $5,000.
Gold Price Outlook
Spot gold was trading around $4,100 as of 0730 GMT, down more than 20% from the record $5,594.82 hit on January 29, as the Middle East conflict stoked concerns about inflation and prompted a more hawkish shift in the Federal Reserve’s monetary outlook.
HSBC said central bank buying had moderated after helping drive gold’s rally in recent years, though long-term diversification could still support prices. Heavy exchange-traded fund outflows seen in the first half may partly reverse in the second half, it added.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.