Finance
Gold could hit $5,000 an ounce in first half of 2026, says HSBC
Published by Global Banking and Finance Review
Posted on January 8, 2026
Jan 8 (Reuters) - Gold prices could rise to $5,000 an ounce in the first half of 2026 on geopolitical risks and rising debt, HSBC said on Thursday.
However, the bank lowered its average 2026 price forecast for gold to $4,587 an ounce from $4,600, citing risks that rising prices could trigger a correction later in the year.
It added that this correction could be deeper should geopolitical risks subside or if the U.S. Federal Reserve stops cutting interest rates.
"We see a wide range of $5,050-$3,950/oz for 2026 and an end-year price of $4,450/oz," HSBC said, adding that trade is likely to feature high volatility.
HSBC also raised its 2027 and 2028 average price forecasts to $4,625 and $4,700, from $3,950 and $3,630 respectively. The note flagged a 2027 year-end price view of $4,600 and introduced a 2029 average price forecast of $4,775.
Spot gold was trading near $4,427.48 on Thursday after logging a 64% annual gain in 2025, its biggest since 1979. [GOL/]
(Reporting by Anjana Anil in BengaluruEditing by David Goodman)
Frequently Asked Questions about Gold could hit $5,000 an ounce in first half of 2026, says HSBC
1What is gold?
Gold is a precious metal that has been used as a form of currency and investment for centuries. It is valued for its rarity, durability, and ability to retain value over time.
2What is an investment?
An investment is an asset or item acquired with the goal of generating income or appreciation. Investments can include stocks, bonds, real estate, and commodities like gold.
3What are financial markets?
Financial markets are platforms where buyers and sellers engage in the trading of assets such as stocks, bonds, currencies, and commodities. They play a crucial role in the economy by facilitating capital flow.
4What is economic growth?
Economic growth refers to the increase in the production of goods and services in an economy over time, typically measured by the rise in Gross Domestic Product (GDP).
5What is currency?
Currency is a system of money in general use in a particular country or economic context. It serves as a medium of exchange, a unit of account, and a store of value.
