Haywood Cuts Gold Forecasts, Sees Attractive Entry Point for Miners

Haywood Securities has reduced its gold price forecasts for 2026 and 2027 due to a weaker second quarter, but believes that this pullback creates an attractive entry point into precious-metals equities ahead of earnings season.

The brokerage lowered its U.S. dollar 2026 gold price forecast to $4,345 per oz., down from $4,906 in March, and reduced its 2027 forecast to $4,000 from $5,000.

Gold fell 14% in the second quarter as higher bond yields, a stronger U.S. dollar, and profit-taking weighed on prices after a sharp rally through late 2025 and early 2026.

Despite trimming its commodity deck, Haywood maintained its bullish stance on several miners and named Equinox Gold its top producer pick, citing the pending merger with Orla Mining to create a North America-focused producer with output of about 1.1 million oz. annually.