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The Financial Express

Goldman Sachs cuts second-half gold outlook on delayed Fed cuts and weaker ETF inflow expectations

Goldman Sachs has lowered its second-half gold forecast after shifting its view on US monetary policy, with the bank now expecting the final two rate cuts to be delayed until 2027 and the Federal Reserve dropping forward guidance. The call also reflects a reduced outlook for inflows into gold-backed ETFs, while a 60-day US-Iran path to a final peace deal has eased geopolitical risk and softened safe-haven demand, according to Bloomberg. Central-bank buying remains supportive, with the World Gold Council estimating purchases of 244 tonnes in Q1 2026, but the bank said the new rate path is weighing on prices.
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