Goldman Sachs has trimmed its year‑end 2024 gold price forecast following a more hawkish stance from the Federal Reserve. The investment bank now projects a lower closing price for gold, reflecting the tighter monetary outlook.
Spot gold is trading at $4,077.43, down 0.29% on the day. Silver is at $52.14, down 0.46%. Crude oil continues to move lower with WTI at $89.37 and Brent at $97.04, each falling 1.27%. Copper is slightly up at $6.28, while aluminum is down 0.26% at $3,053.40. Natural gas has edged higher, trading at $3.01, up 1.97%.
The revised gold outlook comes as the Fed signals a potential tightening of policy, prompting market participants to reassess risk‑premium expectations for precious metals. Investors will be watching how the central bank’s stance evolves and whether it will further influence gold’s trajectory in the coming months.