Revised projections now see gold averaging $4,300 and $4,600 per ounce in late 2026 amid higher yields and a stronger dollar.
Gold’s pullback from record levels has led analysts to lower price forecasts for the second half of 2026. Rising Treasury yields, a firmer U.S. dollar, and softer investor demand have pressured the metal, offsetting support from central bank purchases.
Projections now anticipate gold averaging $4,300 per ounce in the third quarter of 2026 and $4,600 in the fourth quarter. Earlier expectations had been more optimistic, but a higher-for-longer interest-rate environment has shifted market sentiment.
Despite the near-term headwinds, structural drivers—including geopolitical risks and long-term central bank demand—remain intact, analysts said.