Bloomberg Surveillance · Thursday, August 6, 2026
Suki Cooper of Standard Chartered Bank sees upside potential for gold prices, maintaining a forecast of $2,650 per ounce on average. She notes that while gold may appear expensive in the longer term, current macro risks make it underappreciated. Cooper believes the base for gold has formed well, especially considering seasonal consumption weakness and the market's pricing in of potential US interest rate hikes.
“Gold here, we still see upside risk from here. We have fosand six hundred and fifty as our people are average.”
“I'd say if we're looking on a longer term basis, it might look relatively expensive, but if we're looking at the macro risks right now, then it still looks underappreciated.”
“So the base, we think has formed quite well, especially as we're in the middle of a seasonal week period for consumption.”