A hydraulic accumulator, especially a pulsation damper, comprises a metal bellows (19) that has a terminal element (35) which can be displaced along the wall of a housing (1) at least on one bellows end (31) during expansion and compression of the bellows (19), a guiding means (47) being interposed between the terminal element and the housing (1). Said guiding means comprises, on at least one peripheral zone of the terminal element (35), on its outer periphery, first annular sections (51) that are radially spaced apart from the wall of the housing (1) and that are separated from each other by second annular sections (53) that radially project over the first annular sections (51). The terminal element (35) is axially elongated by a peripheral sleeve part (63) which extends towards the immobile bellows end (29), the end of the sleeve part (63) resting as a stop element on a part (25) which is fixed to the housing when the bellows (19) is compressed. The accumulator is characterized in that the bellows (19), on the end of the bellows (29) opposite the mobile terminal element (35), is immobilized on a retaining ring (25) which is fixed to the housing, the end of the sleeve part (63) abutting on said end. The guiding means comprises an annular element (47) an annular part (49) thereof forming the first annular section (51) engaging in a peripheral groove (45) on the terminal element (35). The annular groove is positioned axially off-set on the terminal element (35) away from the immobile bellows end (29) in the direction increasing the distance to the retaining ring (25).