Gold prices have experienced a remarkable surge in 2025, reaching record highs above $4,300 per ounce. However, experts predict that this upward trend may not continue into the second half of 2026.
According to forecasts from ANZ, gold prices are expected to peak at approximately $4,600 per ounce by June 2026, before declining in the latter half of the year. This anticipated downturn is attributed to the U.S. Federal Reserve concluding its easing cycle and potential economic stabilization.
Other financial institutions, including HSBC and Bank of America, have also raised their gold price forecasts for 2026. HSBC now projects an average price of $3,950 per ounce, citing rising safe-haven demand amid geopolitical tensions and a weakening U.S. dollar. Bank of America has increased its forecast to $5,000 per ounce, driven by growing investor demand for safe-haven assets and expectations of U.S. interest rate cuts.
Despite these optimistic projections, experts caution that factors such as a hawkish Federal Reserve stance and stronger-than-expected U.S. economic growth could pose downside risks to gold prices.
