Goldman Sachs has stated that despite the Federal Reserve's rate hike yesterday, it continues to maintain its forecast of gold reaching $5,400 per ounce by the end of 2027.
The ongoing reserve diversification by central banks remains the primary structural driver behind the firm's bullish outlook on gold.
Goldman Sachs anticipates that net risks to gold prices remain tilted to the upside, although two-way volatility is expected to intensify along the way.
The precious metal may initially dip toward a near-term bottom of $4,070 per ounce before gradually recovering, with prices projected to reach $4,200 per ounce by the end of 2026.
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