Odaily Planet Daily reports: A Reuters survey shows that, following a sharp decline in gold prices from their record high in January, analysts have, for the first time since late 2023, lowered their gold price forecasts. However, most still expect central bank buying and concerns over fiscal sustainability to provide support. In a survey of 29 analysts and traders over the past three weeks, the median forecast for gold prices in 2026 was $4,509 per ounce—down from $4,916 three months ago and marking the first reduction in forecasts in 11 quarters. The average forecast for 2027 is $4,610, compared with $5,100 in the previous survey. Gold prices hit a historic high of $5,595 per ounce in January but plunged in the second quarter due to heightened tensions in Iran fueling energy inflation and raising expectations for rate hikes, resulting in its worst quarterly performance since 2013. Since the outbreak of the war, spot gold has declined by approximately 22%. (Jin10)
Analysts Reduce Gold Price Forecasts for the First Time Since Late 2023 Amid Market Decline
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Summary
According to a Reuters survey, analysts have lowered their gold price forecast for the first time since late 2023. The median 2026 forecast is now $4,509 per ounce, down from $4,916 three months ago. The average 2027 price prediction is $4,610, compared to $5,100 previously. Gold prices have fallen 22% from their January peak of $5,595 amid rising energy inflation and shifting interest rate expectations. Most analysts still see support from central bank demand and fiscal concerns. Meanwhile, Bitcoin price prediction models remain a key focus for traders monitoring broader market sentiment.
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