Goldman Sachs Cuts 2026 Gold Target to $4,900 as Spot Prices Fall to $4,157 on June 19

According to Goldman Sachs and Wind data, spot gold prices fell 1.46% to $4,157.81 per ounce on Friday, June 19, declining for a third consecutive day and down 3.72% year-to-date. Goldman Sachs slashed its 2026 year-end gold target from $5,400 to $4,900 per ounce, cautioning prices could further retreat to $4,440 if rate hikes materialize. The bank cited delayed Fed rate cuts (now expected in 2027) and the new Fed Chair's hawkish signals as pressuring gold demand.

Citigroup also downgraded its three-month gold target from $4,300 to $4,000 per ounce. Among 10 Wall Street analysts polled by Kitco News, sentiment has shifted sharply bearish following the Fed's recent meeting: only 1 analyst expects gold to rise next week, 7 predict declines, and 2 forecast range-bound trading.