HSBC raised its average 2025 and 2026 gold price forecast to $3 015 and $2 915 per ounce respectively, citing geopolitical risks. This is an increase from its previous forecasts of $2 687 and $2 615, it said in a note dated Wednesday. The investment bank said geopolitical risks, including the Ukraine war and Middle East conflicts, along with US foreign policy changes and economic uncertainty, are driving gold prices higher. Global markets are in turmoil following U.S. President Donald Trump's reciprocal tariffs move to slap a 10% tariff on most goods imported to the United States, as well as much higher levies on ... (full story)