Gold price could reach $5,050/oz in H1 2026, but H2 correction could be deeper – HSBC

(Kitco News) – Mounting geopolitical risks and rising debt could push gold prices as high as $5,050 per ounce in the first half of 2026, but this could also mean a more significant pullback in the second half, according to analysts at HSBC.“We see a wide range of $5,050 – $3,950/oz for 2026 and an end-year price of $4,450/oz,” the analysts said in a note published Thursday.