Goldman Sachs Cuts Its Year End Gold Price Outlook by 250 Dollars

Goldman Sachs cut its fair value estimate for gold at the end of 2026 from $4,900 to $4,650 an ounce, in a note by bank analyst Lina Thomas dated September 18, 2026 (27 Shahrivar 1405) and reported by Arzdigital on Monday, 30 Shahrivar. The adjustment followed a Federal Reserve interest rate hike. The bank kept its $5,400 target for the end of 2027 unchanged, saying higher rates will slow gold's rise rather than end it.

The bank said central bank purchases, now running at about 91 tonnes a month versus a pre 2022 average of 17 tonnes, remain the main reason for its bullish view on gold. Thomas warned that a more hawkish Fed path could trigger a sharp price correction.