Goldman Sachs Lowers Gold Targets for 2026 and 2027
The bank cited the Federal Reserve’s tighter stance, while saying central-bank demand remains a source of longer-term support for gold.
Key takeaways
- Goldman Sachs cut its 2026 year-end gold forecast to $4,150 an ounce.
- Its 2027 year-end target fell to $4,800 an ounce.
- The bank said central-bank demand continues to support gold over the longer term.
Goldman Sachs lowered its year-end gold price forecasts for 2026 and 2027, citing the Federal Reserve’s tighter policy stance in recent months. It cut its 2026 forecast from $4,650 to $4,150 an ounce and its 2027 forecast from $5,400 to $4,800.
The bank’s revised figures are year-end estimates, not forecasts for average prices over those years. Goldman Sachs said its changes reflect the effects of the Fed’s more hawkish policy.
The bank warned that higher oil prices could add pressure on gold through systematic selling. Sharp declines in stock markets may also initially weigh on gold, as investors sell assets to meet margin calls or reduce leveraged positions.
Goldman Sachs said structural demand from central banks continues to support prices despite these short-term risks. It also said private wealth holders and other long-term investors may view gold as protection against risks to fiscal sustainability.
This article was produced with the help of AI technology. Based on reporting by the outlets listed above.
