The bank revised its outlook after expectations for Federal Reserve easing in 2026 faded, signaling a weaker near-term case for higher gold prices.
Goldman Sachs has cut its gold price target by $500 after no longer expecting Federal Reserve rate cuts in 2026. The shift matters because gold often benefits when interest-rate expectations fall and the opportunity cost of holding non-yielding assets declines. With that easing outlook now removed, the bank has taken a less bullish view on the metal’s price path.