ING Cuts 2026 Gold View to $4,300 as Dollar Index Hits 101.69
Updated
Updated · Kitco NEWS · Jun 24
ING Cuts 2026 Gold View to $4,300 as Dollar Index Hits 101.69
3 articles · Updated · Kitco NEWS · Jun 24
Summary
ING lowered its second-half 2026 forecasts to $4,300 an ounce for gold in Q3 and $4,600 in Q4, while cutting silver to $68 and $74.
Gold has fallen below $4,000 and silver below $60 as elevated Treasury yields and a stronger dollar pressure precious metals after the Fed signaled support for a rate hike this year.
The U.S. Dollar Index has climbed back above 100 to 101.69—its highest since May 2025—as markets price a possible September hike and rising odds of another by December.
ING said silver still faces a market deficit, but slowing solar demand and reduced silver use per photovoltaic panel are weakening some of its strongest demand drivers.
The bank kept a constructive medium-term view, saying central-bank buying, reserve diversification and electrification trends still support both metals even if the recovery is slower and more volatile.