Goldman Sachs maintains optimistic year-end gold price forecast of $5,400

GateUser-bd883c58 · 2026-03-26T04:58:07+00:00

Goldman Sachs maintains its optimistic forecast for gold prices at $5,400 by year-end, despite rising interest rates impacting investment demand. Market pressure has led to some pullback, but central bank gold purchases are expected to support gold prices.

GateUser-bd883c58

2026-03-26 04:58:07

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Why does Goldman Sachs remain optimistic about gold prices amid rising interest rates?

【Goldman Sachs Maintains Optimistic Forecast of $5,400 per Ounce by Year-End】On March 25, Caixin reported that Darin Strowen, co-head of Goldman Sachs’ Global Commodities Research Department, said on Wednesday: “Given our current pricing framework, the recent decline in gold prices is not surprising. Rising interest rate expectations have already impacted investor demand, especially through ETFs. Extreme market pressures can also affect gold prices, as investors facing margin calls often sell gold along with other assets.” He also pointed out that recent gains in gold have exceeded fundamental expectations, with some pullbacks reflecting a “certain degree of normalization.” However, Goldman Sachs remains optimistic overall, expecting gold prices to reach $5,400 by the end of the year, supported by central bank gold purchases driven by governments’ ongoing efforts to diversify assets (i.e., shifting toward assets with lower political and financial risks).

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