Haywood Cuts Gold Forecasts, Sees Opportunity in Precious Metals Equities

Haywood Securities has reduced its near-term gold price forecast due to weaker second-quarter results. The brokerage now predicts an average U.S. dollar gold price of $4,345 per ounce in 2026, down from its March estimate of $4,906.

The analysts also cut their 2027 gold forecast to $4,000 from $5,000 and lowered silver estimates for both years. However, they remain positive on precious metals equities ahead of earnings season.

The recent selloff in gold prices has created a 'period of consolidation within an ongoing bull market,' according to Haywood's mining analysis team. The brokerage cites central bank accumulation, de-dollarization, and elevated global debt levels as key structural drivers supporting the precious metals sector.