Gold Price Forecast Cut for 2026, With Recovery Expected in 2027

Analysts have lowered their forecast for the average gold price in 2026 to $4,495 an ounce, citing pressure from a stronger US dollar and higher bond yields.

The revised outlook reflects a less favourable environment for bullion. A stronger dollar makes gold more expensive for buyers using other currencies, while higher bond yields increase the appeal of interest-bearing assets.

Gold, which pays no interest, can struggle to attract investment when returns on bonds rise. Those factors underpin the weaker price expectations for 2026.

Analysts expect the average price to recover to $4,650 an ounce in 2027, supported by central bank purchases.

The outlook points to central bank demand as a source of support for gold, even as currency movements and bond yields weigh on its nearer-term prospects.