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. 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) and radially project over the first annular sections (51).