Source: Kedia Advisory
Goldman Sachs lowered its end-2026 gold price forecast to $4,150 per ounce.
▪️ The bank reduced its end-2027 gold price projection down to $4,800/oz.
▪️ Higher interest rates weigh heavily on investor positioning and slow price growth.
▪️ Anticipated Federal Reserve rate cuts should eventually remove constraints on gold prices.
▪️ An additional March rate hike could place gold at $4,660/oz by 2027.
Goldman Sachs lowered its end-2026 gold price forecast to $4,150 per ounce from $4,650, citing implications from the US Federal Reserve’s recent hawkish policy stance. The institution also reduced its end-2027 forecast to $4,800/oz from $5,400/oz, explaining that higher interest rates weigh on investor positioning and moderate overall price increases. The bank projects Federal Reserve rate cuts from late 2027 through early 2028, which should remove rate constraints and enable private investor demand to compete with structural central bank buying. Under a scenario featuring an additional March rate hike and a higher terminal rate, Goldman Sachs estimates gold will reach $4,660/oz by the end of 2027. Meanwhile, structural central bank demand and private wealth interest continue to provide market support.
