Goldman Sachs lowered its year-end 2026 gold price forecast by $500. The bank established a new price target of $4,900 per ounce.
Economists no longer expect the U.S. Federal Reserve to cut interest rates during 2026. The updated outlook projects rate reductions in June and December of next year instead.
Analysts maintain a structurally constructive but tactically cautious view on the precious metal. Near-term downside risks persist due to hawkish Federal Reserve policy.
Gold prices could drop to $4,400 if the Federal Reserve chooses to raise interest rates. Such a move would likely decrease demand for gold as a macroeconomic hedge.