Goldman Sachs lowers its gold price target to $4,900 per ounce, expecting the Federal Reserve will not cut interest rates this year

According to Jinshi, Goldman Sachs has lowered its year-end gold price forecast by $500 per ounce to a new target price of $4,900 per ounce, as it no longer expects the Federal Reserve to cut interest rates in 2026. Analysts stated that although gold prices are still expected to rise in the second half of the year, the increase will not be as significant as previously anticipated. The downgrade in outlook is due to the delay in interest rate cut expectations until June and December of next year.

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