HSBC Lowers Gold Price Outlook as Fed Signals Higher Rates

HSBC cut its 2026 gold price forecast to $4,560 per ounce from $4,864, and 2027 to $4,925 from $5,000, Reuters reported July 9. The bank cited a Federal Reserve leaning toward higher interest rates — which makes gold, an asset that pays no income, less attractive. Gold last traded near $4,019 on July 18, about 15% below January's record high of $4,765.93.