Capital Economics economist Hamad Hussain says Fed rate expectations will lift real yields and weigh on gold, leaving further downside over the next 18 months. A sudden equity sell-off could deepen losses as investors are forced to sell high-quality assets to meet margin calls. Forecasts: gold at $3,500/oz by end-2026 and $3,250/oz by end-2027.

2026-06-26

Capital Economics economist Hamad Hussain says Fed rate expectations will lift real yields and weigh on gold, leaving further downside over the next 18 months. A sudden equity sell-off could deepen losses as investors are forced to sell high-quality assets to meet margin calls. Forecasts: gold at $3,500/oz by end-2026 and $3,250/oz by end-2027.