PANews, June 19 – According to Jinshi reports, Goldman Sachs has lowered its year-end gold price forecast by $500 per ounce, as it no longer expects the Federal Reserve to cut rates in 2026. Analysts Lina Thomas and Daan Struyven said in a report: "We are revising our December gold target down to $4,900/oz, implying gold prices are still expected to rise in the second half of the year, but the increase will be smaller than previously anticipated. Our view on gold remains structurally constructive, but we are tactically cautious, with near-term downside risks and medium-term upside risks."

The analysts said the outlook downgrade follows Goldman Sachs economists pushing back U.S. rate cut expectations to June and December of next year, compared with the previous forecast of December 2026 and March 2027, and also reflects lower projected inflows into gold ETFs. They added that concerns about central bank independence may be limited, given that the first Fed meeting under Warsh was "surprisingly hawkish."