Gold is trading 1.2% down today at $4,172.90 following a sharp late-week pullback tied to shifting interest rate expectations and a revised outlook from Goldman Sachs.
- Goldman Sachs cut its December 2026 gold price target to $4,900 per ounce, down from previous estimates.
- The revision follows the Federal Reserve’s decision to hold rates steady and signal no cuts for the remainder of the year.
- A more hawkish policy backdrop continues to weigh on the precious metal as interest rate expectations shift.