Commerzbank Sets $4,800 Gold Target as TD Slashes H2 2026 Forecasts

Spot gold trades near $4,484/oz after banks revised forecasts amid firmer yields and a potential late-2026 Fed hike. TD Securities cut its Q3 and Q4 2026 averages to $4,550/oz and $4,700/oz while lifting its Q2 2027 target to $5,350/oz, citing persistent energy-driven inflation. Commerzbank followed on 4 June by lowering its year-end gold goal to $4,800/oz and silver to $80/oz, yet kept a constructive medium-term stance with $5,200/oz targeted for end-2027. The adjustments reflect near-term macro headwinds but preserve long-term bullish views tied to central-bank buying once geopolitical pressures ease.