Haywood cuts gold forecasts but says miners remain attractive

Haywood Securities cut its near-term gold and silver price forecasts after a weak second quarter, trimming its 2026 gold estimate to $4,345/oz from $4,906 and its 2027 view to $4,000/oz from $5,000. It also lowered its 2026 silver forecast and reduced longer-term platinum and palladium assumptions. Despite the more cautious commodity deck, the brokerage remains constructive on precious-metals equities, arguing the recent selloff is a consolidation within a broader bull market supported by central bank buying, de-dollarization and high debt levels. Haywood highlighted attractive valuations for senior producers and ongoing M&A potential, while naming Equinox Gold as its top producer pick and First Mining Gold, Thesis Gold & Silver, and Troilus Mining among its preferred developers. The note also points to strong upcoming second-quarter earnings across much of the sector, even with lower realized gold prices.