Goldman Sachs: Maintains end-2026 gold price forecast of $4,900, with upside risks skewed to the upside

BlockBeats news, September 12: Goldman Sachs continues to believe that its forecast of gold prices reaching $4,900 per ounce by the end of 2026 faces net upside risks, but two-way volatility along the path will also increase.

Goldman Sachs said its fair value forecast of $4,900 per ounce by the end of 2026 assumes continued strong demand from central banks. If ETF investor inflows recover and the currently elevated bullish options positioning persists, dealer hedging could mechanically amplify the rally, pushing gold prices well beyond its forecast.

Goldman Sachs also said that if expectations for Federal Reserve rate hikes reignite, it could trigger dealer hedging unwinds, leading to a sharper correction in gold prices than usual.