HSBC Forecasts Gold Bull Wave to Reach $5,000 in 2026

HSBC Predicts Gold Bull Wave to Surge by 2026

HSBC expects gold’s bull wave to push prices to $5,000 an ounce in 2026, driven by rising geopolitical risks and new market entrants. Gold spot prices recently surpassed $4,300, marking their strongest week since 2008. The surge is fueled by central bank buying, rising ETF inflows, US rate cut expectations, and tariff-related uncertainties. HSBC raised its 2025 average gold price forecast to $3,455 per ounce and the 2026 forecast to $4,600.

Factors Driving the Gold Bull Wave

The forecasted gold bull wave reflects ongoing geopolitical tensions and economic policy uncertainty worldwide. Public debt levels and increasing demand from new buyers also support higher prices. HSBC highlights that many new investors will hold gold for its safe haven and diversification benefits, even after the rally subsides. Despite expected price volatility in late 2026, the bank foresees gold remaining elevated due to these factors.

SuperMetalPrice Commentary:

HSBC’s bullish gold outlook signals increased investor demand for metals as risk hedges amid global uncertainty. The forecast aligns with similar predictions from Bank of America and Societe Generale, underscoring a broader market consensus. Commodity investors should monitor geopolitical developments and central bank policies closely, as they will likely shape gold’s trajectory through 2026. Volatility may create trading opportunities while reinforcing gold’s role as a strategic asset.