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Goldman Sachs Cuts Gold Price Target by $500 on Fed Rate Outlook
2 sourcesFirst reported 1 month agoUpdated 1 month ago
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What all sources covered
- Goldman Sachs has lowered its year-end gold forecast by $500 per ounce.
- The reduction is due to the expectation that the Federal Reserve will not cut rates this year.
- Analysts believe rising interest rates could decrease gold demand as a hedge.
- The new target price for gold is set at $4,900 per ounce by year-end.
- Recent events, including Middle East tensions, have influenced gold's market pressures.
2 sources
Who reported first
BloombergFirst
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