Goldman Slashes 2026 Gold Target to $4,900 as Hawkish Fed Weighs

Gold trades near $4,200 after the Iran-deal rebound to $4,347 faded amid hotter CPI and stronger jobs data that lifted Fed hike odds. The metal has fallen more than 20% from January’s record above $5,600 as the dollar strengthened and yields rose. UBS cut near-term targets to $3,850-$4,000 while Barclays and JPMorgan kept longer-term bullish calls at $4,791 and $5,243; Goldman Sachs joined the downgrades, trimming its year-end forecast to $4,900 on fading rate-cut expectations.