Goldman Sachs Forecasts Gold at $4,900 an Ounce by End of 2026

Goldman Sachs forecast gold at $4,900 an ounce by the end of 2026 in its latest analysis, according to a Mehr News Agency report published Monday, Shahrivar 2, 1405 (August 24, 2026). Global gold, up about 15 percent from its mid July low, is now trading around $4,600.

Goldman Sachs warned of the effects of the options market: as gold nears levels where call option contracts are exercised, traders who sold those calls may be forced to buy physical gold to manage risk, amplifying the rally; conversely, a price pullback could sharply increase selling pressure. The bank said reduced market expectations for a Federal Reserve rate hike, following the Fed's pause at its July meeting and weak US jobs and inflation data, have helped improve speculative positioning on Comex and boosted demand for gold ETFs.