Goldman Sachs pushed its $3,000 per ounce gold target from the end of the year to mid-2026, citing a slower pace of rate cuts than previously expected.

Goldman Sachs Group Inc. said it no longer sees gold reaching $3,000 an ounce by the end of the year, pushing the forecast to mid-2026 on expectations the Federal Reserve will make fewer rate cuts.

Gold futures fell modestly on Monday, as the yield on the benchmark 10-year U.S. Treasury note climbed to more than an eight-month high, making non-yielding gold less attractive. The U.S. dollar index pared losses after President-elect Trump denied reports that his administration is considering a watered-down tariff policy,

Goldman Sachs has extended its gold price forecast to $3,000 an ounce by mid-2026, up from the previous target. The bank expects fewer cuts by the Federal Reserve. According to a recent Bloomberg report,