Goldman Sachs said that despite the Federal Reserve's interest rate hike yesterday, we are still maintaining our forecast for the gold price of 5,400 US dollars per ounce at the end of 2027. Continued diversification of central banks' reserves remains the main structural driver of our bullish view on gold. We anticipate that there will still be a net upward risk in gold prices, but two-way volatility will also increase in the process. The price of gold may first drop to the recent bottom of $4,070 per ounce, then gradually pick up, and hit 4,200 US dollars per ounce by the end of 2026.

Goldman Sachs said that despite the Federal Reserve's interest rate hike yesterday, we are still maintaining our forecast for the gold price of 5,400 US dollars per ounce at the end of 2027. Continued diversification of central banks' reserves remains the main structural driver of our bullish view on gold. We anticipate that there will still be a net upward risk in gold prices, but two-way volatility will also increase in the process. The price of gold may first drop to the recent bottom of $4,070 per ounce, then gradually pick up, and hit 4,200 US dollars per ounce by the end of 2026.