Goldman Sachs cut its year‑end gold price target to $4,900, down $500 from the previous $5,400 forecast, citing expectations that the U.S. Federal Reserve will keep rates unchanged throughout 2024.
Revised Forecast Details
Analysts Lina Thomas and Daan Struyven explained that the new target assumes the first Fed rate cuts could be postponed until March 2027, with a second possible reduction in December 2027. They described the outlook as “structurally constructive but tactically cautious,” highlighting near‑term downside risk and medium‑term upside potential. The projection