Goldman Sachs Lowers Gold Price Target, Expects No Rate Cut by the Fed This Year
BlockBeats News, June 19th. Due to no longer expecting a Fed rate cut in 2026, Goldman Sachs has lowered its year-end gold price forecast by $500 per ounce. Analysts Lina Thomas and Daan Struyven stated in a report: "We have revised our December gold target price down to $4,900 per ounce, indicating that the gold price is still expected to rise in the second half of the year, but the increase will be less than previously expected. Our view on the gold price remains structurally constructive, but tactically cautious, with near-term downside risks and medium-term upside risks." The analysts noted that the outlook revision was due to Goldman's economists pushing back the expected U.S. rate cut to June and December next year, compared to the previous expectations of rate cuts in December 2026 and March 2027. Reasons also include a reduced forecast for gold ETF fund inflows. Furthermore, they added that given the "surprisingly hawkish" tone of the first Fed meeting under Powell's leadership, concerns about central bank independence may be limited. (FXStreet)
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Google faces a collective lawsuit in the UK: accused of excessive fees in the Play Store, may pay around 1.2 billion pounds in compensation
(1) Google has been accused of charging excessive fees to Android app developers over the past decade, which has driven up the prices of goods and services in the Play Store, potentially impacting around 20 million consumers in the UK. (2) Lawyers representing consumers stated at the opening hearing of a class action lawsuit in the London Competition Appeal Tribunal on Tuesday that Google’s practice of charging a 30% fee on digital purchases violates competition law. Consumers affected since 2015 may ultimately receive a total compensation of about 1.6 billion USD (approximately 1.2 billion GBP). (3) In court documents, lawyers claim that after freeing itself from competitive constraints, Google used its market power to charge unfair prices, harming users’ interests and earning unusually high returns over almost 20 years. Google has continuously denied engaging in any anti-competitive behavior.
CrowdStrike, AWS and Nvidia expand global cybersecurity startup accelerator
CrowdStrike (CRWD.US), Amazon Web Services (AWS), and NVIDIA (NVDA.US) are expanding their global cybersecurity startup accelerator to define the next generation of innovation in the era of intelligent agents.
ADP report: For the four weeks ending September 19, the average weekly job creation was 2.375 positions.
ADP Weekly Employment Report: In the four weeks ending September 19, 2026, private sector employers added an average of 2,375 jobs per week.
Google launches Google Cloud modernization suite including AI migration tools
Google (GOOG.US): Launched the Google Cloud Modernization Product Suite, which includes AI-driven migration and modernization tools.
Crypto prices
More
