Gold price prediction for 2026: Gold rate falls big, experts make bold claims for next year price target

Gold price today fell ahead of the U.S. Federal Reserve rate cut decision and clues on future policy. Spot gold was down 0.4 per cent to $4,193.60 per ounce. U.S. gold futures for February delivery were down 0.3 per cent to $4,221.60 per ounce. RBC Capital Markets raised its long-term gold price forecasts to an average of $4,600 per ounce in 2026 and $5,100 per ounce in 2027, citing geopolitical risks, softer monetary policy, and persistent budget deficits.

The Federal Open Market Committee's (FOMC) two-day policy meeting concludes later, with a rate cut expected to be announced at 1900 GMT and Chair Jerome Powell due to speak. Markets are assigning an 88 per cent probability to a 25-basis-point reduction.

"Gold is sort of range trading until we receive news from the FOMC ... what will move gold is not necessarily the cut in itself, but more about the guidance for the future," said Nitesh Shah, commodities strategist at WisdomTree, adding that higher Treasury yields were pressuring gold at the moment.


Benchmark 10-year U.S. Treasury yields have risen to their highest in more than three months.

"During the past few weeks, the demand for gold from investors measured by holdings of physically-backed products was not as strong as for silver. We see this as the main factor holding back gold," Menke added.

"Gold’s performance remains one of the primary drivers of silver prices — any correction in gold could lead to amplified volatility in silver," said ActivTrades analyst Carolane de Palmas.

Meanwhile, White House economic adviser Kevin Hassett, the frontrunner to replace Powell as Fed chair, said on Tuesday that there was "plenty of room" to cut interest rates further, though rising inflation could change that calculation.

Lower rates tend to favour non-yielding assets such as gold.

FAQs

Q1. When is U.S Federal Reserve meeting?

A1. Federal Open Market Committee's (FOMC) two-day policy meeting concludes later, with a rate cut expected to be announced at 1900 GMT and Chair Jerome Powell due to speak.

Q2. Will there be U.S Fed Rate Cut?

A2. Markets are assigning an 88 per cent probability to a 25-basis-point reduction.