Average gold price to remain above $3,000 until end of 2026 – HSBC forecast

The British international commercial bank HSBC has raised its forecast for the average gold price in 2025 from $3,015 per ounce to $3,215, and for 2026 from $2,915 to $3,125. This was reported by Reuters.

The main reasons for the increase in the predicted price of gold are rising geopolitical risks and a high level of economic uncertainty. In such conditions, gold traditionally acts as a safe-haven asset.

This is what caused the price of gold to rise to a record high of $3,500.05 per ounce in April. As of Tuesday, July 1, the spot price of gold is $3,348.5.

HSBC expects gold to trade in a wide and volatile range of $3,100–3,600 per ounce by the end of the year. They forecast a price of $3,175 by the end of 2025 and $3,025 by 2026.

HSBC emphasizes that even if gold loses some value, levels above $3,000 have strengthened its status as a "safe haven" and an effective tool for diversifying investments.

The bank noted that the central bank's gold purchases would be moderate if the price rises further above $3,300 and could increase if the gold price falls to $3,000.

The bank forecasts that physical demand for gold (jewelry, coins, bars) may decrease in countries such as India and China if prices rise above $3,500.

• The US dollar has lost more than 10% in the first half of 2025 – the worst start to the year for the American currency since the collapse of the Bretton Woods system in 1973.