Gold price could hit $5,000 in H1 2026, says HSBC

Rising geopolitical risks could push gold above $5,000 an ounce during the first half of the year, though a steep correction may follow in the second half, according to analysts at HSBC.

In a note published this week, the bank said it sees gold prices rising to a high of $5,050 an ounce within the first six months — up from its $5,000 target previously.

However, for the entire year, it expects gold to trade within a wide range that could go as low as $3,950 per ounce following a correction later in the year.