Commodities
Goldman Pushes Back $3,000 Gold Forecast on Fewer US Rate Cuts
- Bullion’s record-breaking run set to slow down this year
- Central banks’ demand will remain key long-term driver
Goldman Sachs Group Inc. said it no longer sees gold reaching $3,000 an ounce by the end of the year, pushing the forecast to mid-2026 on expectations the Federal Reserve will make fewer rate cuts.
Slower monetary easing in 2025 is set to crimp demand for bullion-backed exchange-traded funds, causing analysts including Lina Thomas and Daan Struyven to project prices will hit $2,910 an ounce by year-end. Weaker-than-expected ETF flows in December — driven by easing uncertainty after the US election — also contributed to a lower starting point for pricing into the new year, they wrote in a note.
