Gate News message, on April 10, several investment banks including ANZ Bank and Goldman Sachs said that in the long run, gold may still rebound. Analysts at these institutions believe that central bank demand resilience, ongoing geopolitical uncertainty, expectations for Fed rate cuts, and diversification into assets denominated in U.S. dollars are all reasons to stay bullish over the long term.
ANZ Bank analysts Soni Kumari and Daniel Hynes said they expect gold prices to eventually recover because the macro combination of economic growth and inflation has deteriorated, paving the way for central banks to resume rate cuts. ANZ Bank maintained its outlook, forecasting that gold prices will reach 5800 U.S. dollars by year-end. The analysts noted that central bank gold purchases are expected to remain a key support pillar, and that official purchases are expected to be approximately 850 tons in 2026.
ANZ Bank’s bullish stance echoes prior forecasts from Goldman Sachs and the National Australia Bank (Bank of Queensland). Goldman Sachs maintained its forecast of 5400 U.S. dollars, citing continued central bank gold purchases and expectations that the Fed will cut rates by 50 basis points this year. A Goldman Sachs analyst said that if disruptions to the Strait of Hormuz (an important oil shipping route in the Middle East) persist, gold still faces tactical downside risk in the short term, but a long-lasting conflict could accelerate diversification into traditional Western assets and provide long-term support for gold prices.
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