Goldman Sachs lowers its gold target price to $4900 per ounce, and the Federal Reserve will not cut interest rates this year

Goldman Sachs lowered its year-end gold price forecast by US$500/ounce because it no longer expects the Federal Reserve to cut interest rates in 2026, with a new target price of US$4,900/ounce. Analysts said that although gold prices are still expected to rise in the second half of the year, the increase is less than previously expected. The downward revision is due to the postponement of interest rate cuts expectations until June and December next year.