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Goldman Sachs lowered its year-end gold price target by $500, revising the call down to $4,900. The bank attributed the adjustment to growing doubt about the likelihood of interest rate cuts.
Despite the reduction, Goldman still expects gold to finish the year above current levels.
A $500 Haircut on the Bull Case The revision brings Goldman Sachs's year-end gold forecast to $4,900 — down from an implied prior target of $5,400, based on the $500 reduction the bank disclosed.
The move is a tempering of bullishness rather than an outright reversal: Goldman's new figure still represents an anticipated gain over where gold is trading today.
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