HSBC has increased its gold price forecast from $3,015 to $3,215 per ounce for 2025, and from $2,915 to $3,125 per ounce for 2026 due to higher geopolitical risks and strong investor demand.
"We anticipate a wide and volatile trading range of $3,600 per ounce to 3,100 per ounce for the rest of the year and year-end prices of $3,175 per ounce for 2025 and $3,025 per ounce for 2026," Reuters quotes bank analysts as saying.
HSBC noted that central bank gold purchases will moderate on further rallies above $3,300 and could increase should gold correct nearer to $3,000. Further gold price gains above $3,500 could lead to reduced demand in the jewellery, coin and small bar markets, particularly in countries such as India and China.
Theodor Lisovoy, Managing Editor, Rough&Polished
