Gold still piques my curiosity these days. I saw the movement that happened in January—it was crazy—approaching $5,600, then crashing in March by about 12%. Now in April, it’s stabilizing around $4,700–$4,800, and people are still wondering: is this the bottom or is there more decline ahead?

The truth is, major analysts disagree on the forecasts. JPMorgan expects it to reach $6,300 by the end of the year, while Morgan Stanley sees a more conservative scenario around $4,600. UBS raised its target to $6,200 but warned of a possible drop to $4,600 if central banks tighten their policies. The difference between these figures is very significant, reflecting real market uncertainty.

What’s driving prices now is a strange mix: on one hand, geopolitical tensions and safe-haven demand, and on the other, the strength of the dollar and rising bond yields. Inflation has also risen again to 3.3% in March after being 2.4% in February, giving gold additional support.

If you’re thinking of buying now, I recommend focusing on the long term. Gold doesn’t generate fixed income, but it protects your portfolio from inflation and crises. The important thing is to set your goals first—do you want to preserve savings and not expect quick profits? Or do you want to trade on short-term fluctuations? Your choice will determine the strategy you follow.

The coming months feel critical. Any decision by the Federal Reserve regarding interest rates, or a new development in international tensions, could turn the tables. But in the long run, gold price forecasts for the coming days indicate that the precious metal still retains its appeal as a safe haven.