According to CoinMeta, the price of gold is hovering around the key support level of $4,420, with the market focusing on Goldman Sachs' forecast of a target price of $4,900. Despite intensified geopolitical tensions and a relatively weak U.S. dollar, gold still faces pressure from expectations of Federal Reserve interest rate hikes. On Tuesday, the spot gold price fell by 0.4% to $4,428.54 per ounce, with the market anticipating a 66% probability of a hike in September and an 89% probability in December. Analysts point out that if gold can hold the $4,420 support level and break through the $4,440-$4,445 range, it will improve the short-term outlook. Goldman Sachs expects gold to reach $4,900 by the end of 2026, mainly driven by central bank purchases and diversification of reserves.