19.06.2026 09:20
US investment bank Goldman Sachs has revised its gold price forecast downward, in line with its new expectation that the Federal Reserve will not cut interest rates in 2026. The bank lowered its year-end gold price target by $500 to $4,900 per ounce, from its previous estimate of $5,400.
The giant US investment bank Goldman Sachs has made a very sharp cut in its gold price forecasts after changing its expectations regarding the US Federal Reserve's (Fed) monetary policies. The bank announced that it has shelved its expectation that the Fed will cut interest rates throughout 2026, shaking up global commodity markets.
DECEMBER TARGET CUT FROM $5,400 TO $4,900
In the latest analysis report published by Goldman Sachs, the December gold price target, previously announced at $5,400 per ounce, was revised down by $500 to $4,900.
In an investor note published under the signatures of bank analysts Lina Thomas and Daan Struyven, it was emphasized that the new target level actually indicates that gold will maintain its upward trend in the second half of the year, but this upward momentum is expected to be much more limited than previously anticipated due to the Fed's interest rate path.
DOWNWARD TREND IN GOLD AND SILVER
Following these developments, precious metals started the day on a selling note in global and local markets.
Current market situation (as of 08:25 TRT):
- Gold (Ounce): Entered a downward trend in global markets, retreating to the $4,130 level.
- Gold (Gram): In the domestic market, it is trading at 6,166 TL under free market conditions.
- Silver (Ounce): Another metal affected by the loss in value, silver's ounce fell to $63.46.
- Silver (Gram): In the domestic market, silver's gram is moving at the 94.69 TL level.
Analysts state that signals that the Fed will maintain a high interest rate environment for longer than expected may continue to put pressure on commodity prices in the coming period.
PEACE HOPE HAD SUPPORTED GOLD
Recently, news flow regarding a possible agreement between the US and Iran had increased optimism in the markets. As parties announced an agreement and concerns over energy supply eased, oil prices declined, and investors began pricing in a potential easing of inflationary pressure. Gold, finding support from this process, compensated for its losses and moved upward. Expectations that a peace deal would be formalized, in particular, pushed gold prices higher through the interest rate outlook rather than safe-haven demand.
CANCELLATION OF TALKS CHANGED THE BALANCE
However, with the cancellation of the talks expected to take place today, a new period of uncertainty has begun in the markets. The gram price of gold, which closed yesterday at 6,342 TL, fell to 6,154 TL today. As of 09:00, the gram of gold is trading at 6,182 TL. Gold (ounce) is at the $4,138 level, having fallen by more than $100.