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Gold Price Forecast 2026: HSBC Says Sell-Off May Be Nearing An End
Gold prices have steadied after one of their sharpest monthly declines in years, and HSBC believes the precious metal is approaching a level where long-term investors may begin returning. Gold (XAU/USD) traded near $4,021 on Monday, little changed on the day after falling more than 11% in June from highs above $4,540. HSBC says gold has been hit by a stronger US Dollar and rising expectations for further Federal Reserve rate hikes, but believes much of the bad news is now reflected in prices. "Gold fell on rate hike expectations, despite a lower USD." The bank argues that prices are now approaching important ... (full story)
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The gold market continues to see a lot of buying just below the $4000 level, trying to hold it as support.
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