HSBC Cuts Gold Price Targets; Bullion Faces Potential Retest of $4,000 Level in Near Term - finance.biggo.com

AI desk brief

Gold closed slightly higher at $4,165.29/oz on Thursday, but the metal remains under pressure from 20-year-high Treasury yields and a stronger dollar even as softer U.S. inflation data has sharply reduced bets on another Fed hike in October. HSBC cut its 2026/2027 average gold forecasts to $4,490 and $4,825/oz and warned the market may retest the $4,000 level near term, with Friday’s U.S. payrolls report now the key catalyst.

The article frames gold’s near-term setup as a tug-of-war between easing rate-hike expectations and still-elevated real-rate/FX headwinds. HSBC and market analysts also flagged a potential offset from central bank buying if prices approach or slip below $4,000/oz, while silver, platinum and palladium were mixed, underscoring a cautious tone across the precious-metals complex.