Goldman Sachs Cuts Gold Forecasts on Hawkish Federal Reserve Shift

Goldman Sachs reduced its year-end gold price forecast for 2026 to $4,150 per ounce from $4,650 and lowered its 2027 projection to $4,800 from $5,400. Following the downgrade, gold futures traded around $4,082 per ounce, after earlier dipping 0.98% near $4,073.20. Strategists attributed the adjustments to persistent macroeconomic headwinds, including a hawkish Federal Reserve stance with markets pricing in a 71% chance of a December rate hike. Despite near-term pressure on non-yielding bullion, Goldman highlighted structural support from central banks, which are projected to purchase 60 tonnes monthly through 2027.