HSBC has raised its average gold price forecast for 2025 to $3,215 an ounce, up from $3,015, citing "elevated geopolitical risks, economic uncertainty, and rising government debt." The bank also increased its 2026 estimate to $3,125 an ounce from $2,915, while projecting a turbulent path ahead.
"We anticipate a wide and volatile trading range of $3,600/oz to $3,100/oz for the rest of the year," HSBC said in a note, as reported by Reuters.
