The giant bank changed its forecast for gold! Here is the new target for 2027

Goldman Sachs cut its end-2027 gold price forecast to $4,650 an ounce from $4,800, citing expectations that the Federal Reserve will deliver further rate hikes. Despite the downgrade, the bank still sees roughly 16% upside from current levels. Goldman expects a sustained gold recovery to take hold only once the Fed begins cutting rates, which it projects for December 2027. The revision matters because it ties the metal's outlook directly to the Fed's policy path rather than to safe-haven demand. Investors will watch incoming U.S. inflation and labor data for signals on whether additional hikes materialize or the pivot to easing arrives sooner.