Gold Prices Decline: Banks Revised Their Forecasts

Recent Developments in the Gold Market

Known as the safe haven for investors, gold experienced a significant decline throughout 2025. In recent weeks, positive developments in the trade talks between the USA and China and the strengthening of the dollar have pulled gold prices down. By the end of the week, the price of gold per ounce fell below 4,000 dollars, raising concerns among investors.

Bank of America's Predictions

Bank of America forecasts an average price of 3,800 dollars per ounce for gold by the end of 2025. The bank also emphasizes that gold may reach 5,000 dollars in 2026. According to this update, the signs of recovery in the US economy have redirected some investments towards the dollar.

Citi's Bearish Predictions for Gold and Silver

Citi has revised its forecasts for gold and silver prices downward due to fluctuations in international trade policies and uncertainties in global markets. For gold, the forecast was downgraded from 4,000 dollars to 3,800 dollars, and for silver, from 55 dollars to 42 dollars.

HSBC's Innovative Predictions

HSBC suggests that gold prices may remain in the range of 3,700 – 4,050 dollars by the end of the year, while indicating that these prices could drop to 3,800 dollars by the end of 2026. The bank noted that it had predicted an average of 2,683 dollars for gold at the beginning of the year but that gold traded at an average of 3,291 dollars throughout the year.

Experts: A Natural Correction Process

Michael Lytle from global investment advisory company StoneX evaluates the decline as a “natural breather.” Lytle reminds that gold prices had increased by %25 until mid-October, stating that it is normal to see a correction after such a rapid increase.

BlackRock: Significant Opportunities in the Commodity Market

BlackRock World Mining Fund manager Evy Hambro stated that they have achieved significant gains by allocating the highest share of their portfolio to gold and copper. Hambro believes that the commodity market still carries untapped potential. He pointed out that as investors continue to seek safe havens due to rising budget deficits and high public spending, the trend towards gold will persist.