Goldman Sachs revisits its gold price target after Fed meeting
Key takeaways
- Goldman Sachs revisits its gold price target after Fed meeting Hillary Remy Sun, June 21, 2026 at 2:47 AM GMT+7 5 min read GC=F Gold hit an all-time high near $5,600 an ounce in late January.
- Goldman Sachs cut its year-end gold target by $500, down to $4,900 from $5,400.
- Goldman no longer believes the Fed cuts rates at all in 2026.
Goldman Sachs revisits its gold price target after Fed meeting Hillary Remy Sun, June 21, 2026 at 2:47 AM GMT+7 5 min read GC=F Gold hit an all-time high near $5,600 an ounce in late January. It's been sliding pretty much nonstop since then, and on June 19 the bank most responsible for hyping that rally finally caught up to where the price actually is.
Goldman Sachs cut its year-end gold target by $500, down to $4,900 from $5,400. Seeking Alpha noted that the new number still points to gains from current levels, just smaller than what Goldman had been promising clients for most of the year. Bloomberg traced the call directly to analysts Lina Thomas and Daan Struyven.
Goldman no longer believes the Fed cuts rates at all in 2026. Full stop, that's the reversal. Lower rates make gold, which pays you nothing for holding it, look better next to bonds and cash. The bank's old $5,400 call leaned hard on aggressive cuts weakening the dollar and pulling money into bullion. That math doesn't work anymore.