Gold Futures Broadly Rangebound; Goldman Sachs Delays Gold Price Target
Gold futures drop slightly, but prices keep trading in a narrow range. Futures fall 0.1% to $2,651.50 a troy ounce.
The precious metal has been broadly rangebound in recent months, as higher central bank demand offset weaker speculative demand, Goldman Sachs analysts say in a note. Goldman pushes back its estimate for gold prices to hit $3,000 a troy ounce to the second quarter of 2026, from December 2025.
This largely reflects expectations of just 75 basis points of U.S. interest rate cuts over 2025, from 100 basis points previously, Goldman says. Higher interest rates for longer typically damp the appeal of non-interest bearing gold. The Federal Reserve's pathway towards monetary policy easing remains the main risk to gold price upside, Goldman adds.
Source : Dow Jones Newswires
