HSBC predicts gold prices may peak at $4,400 in the first half of 2026, and will fluctuate between $3,700 and $4,050 for the remainder of the year.

HSBC predicts that the gold price rally will continue into 2026, with the price potentially breaking through the $4,400 peak in the first half of the year. Safe-haven inflows, expanding fiscal deficits, and Federal Reserve policies are key drivers, with a year-end target price of $3,950.