Why HSBC Still Believes Gold Hits $4,750 by Year-End (And What the Mainstream Is Missing)

HSBC cut its 2026 average gold forecast by $304 on July 9. It left its year-end target at $4,750 unchanged. That gap between the two numbers is what the mainstream missed — and it tells you everything about where gold goes from here.

HSBC Cut Its Gold Forecast by $304. Then Said Gold Will Hit $4,750 by Year-End.

HSBC cut its 2026 average gold forecast to $4,560 from $4,864 on July 9, citing a hawkish Fed and stronger dollar. Its year-end target of $4,750 held — and that’s the number that matters.