Investment banks, rating agencies lower gold outlook after dropping over 25% since Jan 29

Mon June 29 2026

With gold hovering around $4,000 an ounce levels and its near-term environment challenging, the precious metal’s price outlook has been lowered by investment banks and rating agencies.

“While we remain constructive on gold over the medium term, the near-term environment has become more challenging. As a result, we are lowering our gold price forecasts,” said Ewa Manthey, Commodities Strategist at ING Think.  It is the economic and financial analysis wing of the Dutch Multinational Financial Services firm, ING.

“We continue to forecast an annual average of $4,600/oz for 2026 for now, with near-term price dynamics likely to be driven by Fed policy signals, rendering the precious metal susceptible to a repricing of market expectations and renewed dollar strength in the short term,” said research agency BMI, a unit of Fitch Solution.

Source: https://www.thehindubusinessline.com/