Gold and HSBC's $4,560 Forecast: What the Bank's Hawkish-Fed Downgrade Tells Us About the Next Six Months
HSBC cut its 2026 average gold price forecast to $4,560 per ounce last week, down from $4,864, and trimmed its 2027 target to $4,925 from $5,000, according to a research note reported by Reuters. The bank cited Fed Chair Kevin Warsh's hawkish posture and a structurally stronger dollar. Spot gold was trading near $4,030 on July 15, down nearly 28% from the January 29 record of $5,594.82, and when a bank with HSBC's physical gold franchise revises its numbers, the reasoning matters more than the headline cuts. Key Takeaways HSBC lowered its 2026 average gold forecast to $4,560/oz (from $4,864) and 2027 to $4,925 (from $5,000), while holding a year-end 2026 target of $4,750 and a 2027 exit at $…
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