Goldman Sachs Updates 2026 Year-End Gold Ounce Price Forecast
In its latest report, global investment bank Goldman Sachs downwardly revised its ounce gold projection for 2026 while keeping its 2027 target unchanged.
US-based investment bank Goldman Sachs has lowered its 2026 year-end ounce gold value forecast from $4,900 to $4,650.
2026 Gold Price Revision
Goldman Sachs announced that it has reduced its fair value estimate for gold for the end of 2026 from $4,900 to $4,650 per ounce.
2027 Target Maintained
The bank made no changes to its previously projected target figure of $5,400 for the end of 2027, maintaining this level.
Current Spot Price Status
The report particularly emphasized that the new revision remains at a level above the current spot gold price of approximately $4,300.
Fed Policies and Interest Rate Expectations
Economists expect the Fed to implement an interest rate hike in October. It is anticipated that tight monetary policy will reduce the momentum of the upward trend in gold.
Impact of Central Bank Purchases
Central banks' monthly gold purchases are hovering around the 90-ton level. It was noted that these purchases account for nearly all of the rally until the end of 2027.
Downside Risks
The bank identified a more hawkish Fed policy as the primary downside risk for gold prices, stating that sharp corrections could occur.