Goldman Sachs Lowers Gold Forecast by $500 Amid Rate Doubts

WHO:

Cointelegraph - Goldman Sachs is the organization involved in the forecast revision.

Bloomberg Markets - Goldman Sachs Group Inc. is the entity making the forecast change.

WHAT:

KITCO - Spot gold last traded at $4,250.42 per ounce for a loss of 0.17% on the daily chart.

KITCO - Initial claims for state unemployment benefits came in at seasonally adjusted 226,000 for the week ending June 13.

KITCO - The previous week’s figure for initial claims was revised to 230,000 from 229,000.

KITCO - The four-week moving average for new claims came in at 223,250 against expectations for 223,000.

KITCO - Continuing jobless claims were at 1.810 million during the week ending June 6 against expectations for 1.800 million.

Cointelegraph - Goldman Sachs revised its year-end forecast for gold to $4,900.

Bloomberg Markets - Goldman Sachs cut its year-end gold forecast by $500 an ounce.

WHEN:

Bloomberg Markets - The Federal Reserve is no longer seen reducing rates in 2026.

WHY:

Bloomberg Markets - The revision is based on the expectation that there will be no Federal Reserve rate cuts this year.

(UPDATED June 19, 2026 12:20 UTC)

Spot gold last traded at $4,250.42 per ounce, reflecting a slight loss of 0.17% on the daily chart. In the job market, initial claims for state unemployment benefits were reported at a seasonally adjusted 226,000 for the week ending June 13, with the previous week's figure revised to 230,000. Additionally, continuing jobless claims stood at 1.810 million during the week ending June 6, surpassing expectations of 1.800 million.

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(UPDATED June 19, 2026 10:21 UTC)

Goldman Sachs has revised its year-end forecast for gold, now predicting it will reach $4,900, which is a decrease of $500 an ounce from their previous estimate. This revision comes amid expectations that the Federal Reserve will not be reducing rates this year. As a result, market analysts are adjusting their outlooks to reflect this new economic landscape.