BlockBeats News, June 19th. Due to no longer expecting a Fed rate cut in 2026, Goldman Sachs has lowered its year-end gold price forecast by $500 per ounce. Analysts Lina Thomas and Daan Struyven stated in a report: "We have revised our December gold target price down to $4,900 per ounce, indicating that the gold price is still expected to rise in the second half of the year, but the increase will be less than previously expected. Our view on the gold price remains structurally constructive, but tactically cautious, with near-term downside risks and medium-term upside risks." The analysts noted that the outlook revision was due to Goldman's economists pushing back the expected U.S. rate cut to June and December next year, compared to the previous expectations of rate cuts in December 2026 and March 2027. Reasons also include a reduced forecast for gold ETF fund inflows. Furthermore, they added that given the "surprisingly hawkish" tone of the first Fed meeting under Powell's leadership, concerns about central bank independence may be limited. (FXStreet)