Gold Bulls Retreat: Wall Street Wavers After Fed’s Hawkish Signal

Several major Wall Street firms are backing away from their once-optimistic gold price targets. The shift follows the Federal Reserve’s June meeting, which struck a notably hawkish tone. Analysts now expect the central bank to keep interest rates higher for longer, a move that typically reduces the appeal of gold, which offers no yield. As a result, these firms no longer believe gold will reach the lofty highs they previously predicted.