15:55 - 9.07.2026

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July 9, Fineko/abc.az. Investment bank HSBC reduced its forecast for the average price of gold for 2026 by 6.3%, citing strong positions of the US dollar in global markets and pressure from high interest rates.

According to the report of bank's chief precious metals analyst James Steele, after this adjustment, the expected average price per ounce of gold was lowered to $4,560.

Bank's analysts predict that gold will trade in a wide range of $3,800 to $4,700 per ounce for the rest of the year, and will stabilize at $4,750 by the end of the year. Due to short-term pressure, the bank has also revised its forecast for 2027, lowering it from $5,000 to $4,925 per ounce. Nevertheless, HSBC believes that structural risks in the global economy will maintain long-term demand for gold as a defensive asset in the future, so the forecasts for 2028 and 2029 remain unchanged at $5,200 and $5,300 per ounce, respectively.