Gold Price Forecast Trimmed to $5,600 by 2030 Amid Rising Rates

Bernstein has slightly lowered its forecast for gold prices in 2030 but remains optimistic about the metal's future performance.

The analyst, Bob Brackett, reduced the firm's long-term price forecast to $5,600 an ounce from a previous estimate of $6,100.

This adjustment comes as interest rate expectations have shifted from cuts at the start of the year to hikes by 2027, pushing real rates up to around 2.7%.

Despite gold's historically negative correlation with real rates, Brackett believes the metal can still rise even in a slowly rising rate environment, citing its resilience between 2023 and 2025 as an example.

The analyst attributed this ability of gold to perform well under rising interest rates to central bank buying, which remains a key structural driver for gold prices.