Goldman Sachs cut its year-end gold price forecast by $500 per ounce on 19 June 2026, lowering the target to $4,900/oz. The bank attributed the revision to expectations that the Federal Reserve will not cut interest rates in 2026, with higher rates reducing demand for gold as a non-yielding asset. The development was reported by Bloomberg Markets, Finnhub, and Marketwatch TOP.
No concrete market price movement or volume data for gold was reported in connection with this revision across the cited sources.
The revision directly concerns precious metals, where gold futures (GOLD) and the SPDR Gold Shares ETF (GLD) were named in coverage as the instruments most directly tied to the forecast change.
Goldman Sachs framed the adjustment as a recalibration to reflect a sustained higher-rate environment rather than a withdrawal of conviction on gold. No official Federal Reserve statement or regulatory response was cited in connection with the revision.
Sources: Bloomberg Markets, Finnhub, Marketwatch TOP