Top bank revises 2026 gold price forecast as investors reassess rally - Yahoo Finance

AI desk brief

HSBC cut its 2026 average gold forecast to $4,490/oz from $4,560 and its 2027 average to $4,825 from $4,925, reflecting a more cautious view on how quickly the rally can resume. The bank said gold may face further near-term pressure, but central bank buying should strengthen if prices move toward or below $4,000/oz, limiting downside.

The article frames gold as still structurally supported even after a sharp 2026 reversal from a January record near $5,595 and a 64% gain in 2025. Macro headwinds remain the key drag: higher oil prices, firmer bond yields and a stronger dollar are all cited as factors that could keep the metal choppy.