WGC Sees Gold Rebound in H2 2026
Gold | 2026-07-02 06:57:15
According to the council, current prices largely reflect expectations of moderate global economic growth and limited additional rate hikes by the U.S. Fed.
By Paul Ploumis
SEATTLE (Scrap Monster): Gold prices could regain strength in the second half of 2026, mainly driven by weakening economic conditions, intensifying geopolitical tensions, and expectations for interest rate hikes, said the World Gold Council (WGC) in its recently released Mid-Year Outlook 2026.
After climbing to a record intraday high above US$5,500 per ounce in January, gold experienced a sharp correction, briefly falling below US$4,000 per ounce in late June. The yellow metal is down nearly 7% since the beginning of the year. However, it continues to remain among the best-performing major assets over the past one-year period.
The report notes that heightened geopolitical risks, changing investor sentiment and increased trading activity led to significant price swings during the first half of the year.
According to the council, current prices largely reflect expectations of moderate global economic growth and limited additional rate hikes by the U.S. Fed. If these conditions remain unchanged, gold is expected to trade within a range of around US$4,100 per ounce, with fluctuations of about 5%.
However, the emergence of fresh geopolitical conflicts or a drastic slowdown in economic growth could bring about changes in gold prices. Under such scenarios, prices could climb toward US$4,500 per ounce. In the meantime, a stronger rally may push gold closer to US$5,000 per ounce, the WGC report said.
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POLL
According to the WGC, what is the biggest potential catalyst for a stronger gold rally in H2 2026?
Frequently Asked Questions
- What factors could support gold prices in the second half of 2026?
Weakening economic conditions, rising geopolitical tensions, and evolving interest rate expectations are expected to support gold prices.
- What is the World Gold Council's base-case outlook for gold prices?
The WGC expects gold to trade around US$4,100 per ounce, with price fluctuations of approximately 5%, if current economic conditions persist.
- Under what conditions could gold rise to US$4,500–US$5,000 per ounce?
Gold could rally toward US$4,500–US$5,000 per ounce if geopolitical conflicts escalate or the global economy experiences a much sharper slowdown.
