Wall Street Lowers Gold Outlook Amid Fed Hawkishness
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 22 2026
0mins
Source: CNBC
- Fed Hawkish Impact: Following the hawkish tone of new Fed Chairman Kevin Warsh, several Wall Street firms have downgraded their gold price outlook, anticipating a significantly higher risk of rate hikes this year, which makes it difficult for gold to rise meaningfully in the near term.
- Target Price Adjustments: Bank of America has lowered its gold target from $6,000 to an unlikely figure due to an uncomfortable inflation backdrop that may drive tighter monetary policy, with gold prices currently at $4,207, reflecting market sensitivity to rate hike expectations.
- ETF Liquidity Risks: Morgan Stanley noted that the hawkish Fed stance brings fresh challenges for ETF buying, making their previous $5,200 gold target more challenging to achieve, as ETF flows are sensitive to changes in rate expectations and real yields.
- Other Firms' Reactions: Goldman Sachs has cut its year-end gold target from $5,400 to $4,900, indicating no rate cuts from the Fed before the second half of 2027, reflecting a cautious view on short-term downside risks and medium-term upside potential for gold.
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Analyst Views on DB
Wall Street analysts forecast DB stock price to rise
13 Analyst Rating
7 Buy
5 Hold
1 Sell
Moderate Buy
Current: 37.040
Low
36.55
Averages
43.20
High
47.63
Current: 37.040
Low
36.55
Averages
43.20
High
47.63
About DB
Deutsche Bank Aktiengesellschaft is a bank and holding company for its subsidiaries. The Company offers a range of services such as investment, financial and related products and services to private individuals, corporate entities, and institutional clients. It operates through four business divisions: Corporate Bank, Investment Bank, Private Bank and Asset Management. The Corporate Bank division serves corporate clients and financial institutions, offering cash management, trade finance, lending, foreign exchange, trust and agency services, correspondent banking, and securities services. The Investment Bank division includes Fixed Income & Currencies (FIC) Sales & Trading, Origination & Advisory, and Deutsche Bank Research. The Private Bank division focuses on personal and private clients, wealthy individuals, entrepreneurs and families. The Asset Management division operates under the brand DWS, and it serves a diverse client base of retail and institutional investors worldwide.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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