A Reuters survey of 29 analysts and traders over the past three weeks shows
forecasters trimmed gold price forecasts for the first time since end-2023 after
a sharp retreat from January’s record high. The median 2026 forecast is
$4,509/oz, down from $4,916 three months earlier and marking the first quarterly
downgrade in 11 quarters. The 2027 forecast averaged $4,610/oz, versus $5,100 in
the prior survey. Most respondents still expect central bank buying and
fiscal-sustainability concerns to provide support. Gold hit a record $5,595/oz
in January but plunged in Q2 as the Iran war intensified energy-driven inflation
and lifted rate-hike expectations, producing the worst quarter since 2013; spot
gold is down about 22% since the conflict began.
