Fed Policies Trump Geopolitical Risks in Gold Price Forecasts

The Federal Reserve's rate policies under Kevin Warsh have taken precedence over geopolitical tensions and China's gold buying in analysts' price forecasts for the precious metal.

A survey by the London Bullion Market Association (LBMA) found that analysts cut their price projections for 2026 compared to six months ago, with the highest year-end forecast standing at $5,100 per ounce and an average of $4,500.

The LBMA's mid-year survey highlighted the Fed's response to US inflation data as a major concern for ten analysts, while five pointed to the US-Israel war on Iran and broader Middle East instability.