Goldman Sachs analysts forecast gold could reach $5,400 an ounce by year-end, retaining their bullish outlook despite a 13% selloff since the Iran conflict began. The firm’s Lina Thomas and Daan Struyven attribute renewed gains to persistent central bank demand and anticipate two additional US interest rate cuts this year. Gold’s current price sits well below this target, reflecting near-term weakness driven by geopolitical risk aversion and dollar strength. This forecast highlights the firm’s confidence in long-term fundamentals outweighing short-term volatility. Goldman’s view underscores gold’s role as a hedge against inflation and currency debasement, particularly if the Federal Reserve eases policy further. The analysts’ prediction suggests potential upside for investors betting on sustained central bank support for the precious metal.