{"id":438340,"date":"2026-09-18T08:44:57","date_gmt":"2026-09-18T01:44:57","guid":{"rendered":"https:\/\/www.swingfish.trade\/blog\/market-news\/goldman-keeps-5400-gold-forecast-intact-despite-fed-hike-438340\/"},"modified":"2026-09-18T08:44:57","modified_gmt":"2026-09-18T01:44:57","slug":"goldman-keeps-5400-gold-forecast-intact-despite-fed-hike","status":"publish","type":"post","link":"https:\/\/www.swingfish.trade\/blog\/market-news\/goldman-keeps-5400-gold-forecast-intact-despite-fed-hike-438340\/","title":{"rendered":"Goldman keeps $5,400 gold forecast intact despite Fed hike"},"content":{"rendered":"<div>\n<p dir=\"ltr\">Goldman Sachs holding its end-2027 gold forecast at $5,400 an ounce despite this week&#8217;s rate hike is the more notable signal here, since it suggests the bank sees the Fed&#8217;s tightening path as a headwind that slows gold&#8217;s rally rather than one that reverses it. That view sits against a backdrop where higher rates would typically curb demand for a non-yielding asset by increasing the appeal of yield-bearing alternatives, yet gold has still edged higher on Friday, helped by a softer dollar and a 1% pullback in oil prices. With 16 of 18 Fed policymakers now pointing to at least one more hike this year, the near-term path for real yields remains a genuine headwind, but Goldman&#8217;s unchanged long-term call implies the bank sees that pressure as manageable within its broader bullish thesis, likely underpinned by continued central bank buying and ongoing Middle East risk.<\/p>\n<p dir=\"ltr\">&#8212;<\/p>\n<p dir=\"ltr\"> Goldman says the Fed&#8217;s hike slows gold&#8217;s rally, but the bank isn&#8217;t backing off its $5,400 call.<\/p>\n<p dir=\"ltr\">Summary:<\/p>\n<ul dir=\"ltr\">\n<li>Goldman Sachs kept its end-2027 gold price forecast unchanged at $5,400 per troy ounce despite this week&#8217;s Federal Reserve rate hike, saying tighter policy (<a href=\"https:\/\/investinglive.com\/central-banks\/goldman-ditches-one-and-done-call-now-sees-a-second-fed-hike-in-october\" target=\"_blank\" rel=\"follow\">Goldman ditches one and done call, now sees a second Fed hike in October<\/a>) is likely to slow bullion&#8217;s rally but not derail it<\/li>\n<li>Gold rose slightly on Friday to trade above $4,355 an ounce, supported by a 1% fall in oil prices and a subdued US dollar<\/li>\n<li>The Fed raised interest rates on Wednesday and signalled further hikes ahead, with updated projections showing 16 of 18 policymakers expecting at least one more quarter-point increase by year end<\/li>\n<li>A weaker dollar makes dollar-priced commodities cheaper for holders of other currencies, while higher rates typically curb gold demand by boosting the appeal of yield-bearing assets<\/li>\n<li>Market participants remain focused on developments in the Middle East and the broader path for global monetary policy<\/li>\n<\/ul>\n<p dir=\"ltr\">Goldman Sachs kept its end-2027 gold price forecast unchanged at $5,400 per troy ounce on Friday, even after this week&#8217;s Federal Reserve rate hike, saying tighter monetary policy is likely to slow bullion&#8217;s rally rather than derail it. The bank&#8217;s unchanged call comes despite a backdrop that would typically weigh on gold, since higher interest rates increase the appeal of yield-bearing assets and can curb demand for a non-yielding metal, even one traditionally viewed as an inflation hedge.<\/p>\n<p dir=\"ltr\">Gold itself ticked higher on Friday, trading above $4,355 an ounce, as lower oil prices and a subdued US dollar offered support. Oil fell around 1% on the day, while the dollar remained soft after retreating from recent highs, a combination that makes dollar-priced commodities less expensive for holders of other currencies and has provided a modest tailwind for bullion.<\/p>\n<p dir=\"ltr\">The move comes just two days after the Fed raised interest rates on Wednesday and flagged further hikes in the months ahead. Updated quarterly economic projections showed 16 of the Fed&#8217;s 18 policymakers now anticipate at least one more quarter-percentage-point increase by the end of this year, a hawkish signal that has kept real yields and the dollar in focus for gold traders. Despite that backdrop, market participants have kept a close eye on developments in the Middle East alongside the broader path for global monetary policy, with geopolitical risk continuing to provide an offsetting source of support for the metal even as the rate outlook turns less accommodative.<\/p>\n<p dir=\"ltr\">\n<p>                            This article was written by Eamonn Sheridan at investinglive.com.<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Goldman Sachs holding its end-2027 gold forecast at $5,400 an ounce despite this week&#8217;s rate hike is the more notable signal here, since it suggests the bank sees the Fed&#8217;s tightening path&hellip;<\/p>\n","protected":false},"author":216,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[86],"tags":[],"class_list":["post-438340","post","type-post","status-publish","format-standard","hentry","category-market-news"],"_links":{"self":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts\/438340","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/users\/216"}],"replies":[{"embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/comments?post=438340"}],"version-history":[{"count":0,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts\/438340\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/media?parent=438340"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/categories?post=438340"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/tags?post=438340"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}