CNBC Pro

Goldman lowers gold forecast, says higher interest rates are already priced in

Share
This photo shows gold bars stacked in rows.
Ktsdesign | Science Photo Library

Goldman cut its gold forecast on Wednesday, saying higher real interest rates are already reflected in the precious metal's price.

Real interest rates exclude the effect of inflation.

The firm still sees upside for gold and its new target — $2,000 per troy ounce down from $2,300 — is about 11% above where gold futures currently trade.

More In Street Calls

CNBC ProHere's what major analysts said about J&J, Moderna and other related stocks following the pause news
CNBC ProHere are Tuesday's biggest analyst calls of the day: Amazon, FedEx, Caterpillar, Boeing & more
CNBC ProMorgan Stanley has high conviction these stocks will be higher over the next 15 to 60 days