Goldman Sachs Lowers Gold Price Target, No Longer Expects Fed Rate Cut This Year

CoinFeed, June 19 – Goldman Sachs has lowered its year-end gold price forecast by $500/oz, as it no longer expects the Federal Reserve to cut rates in 2026, according to Jinshi. Analysts Lina Thomas and Daan Struyven said in a report: "We revise down our December gold target to $4,900/oz, implying gold prices are still expected to rise in the second half of the year, but by less than previously anticipated. Our view on gold remains structurally constructive but tactically cautious, with near-term downside risks and medium-term upside risks." The analysts noted the downgrade follows Goldman economists pushing back U.S. rate cut expectations to June and December next year, from previously expected cuts in December 2026 and March 2027, and also reflects lower projected gold ETF inflows.