ANZ has maintained its year-end gold target at $5,800, citing central bank demand, geopolitical uncertainty, anticipated Federal Reserve rate cuts, and diversification away from US dollar assets as factors supporting a long-term bullish outlook. According to NS3.AI, these elements contribute to a positive sentiment for gold prices in the future.
Goldman Sachs also upheld its forecast of $5,400, noting that prolonged disruptions in the Strait of Hormuz could bolster gold prices over the long term, despite potential short-term downside risks. Both financial institutions emphasize the impact of geopolitical factors and monetary policy on the precious metal's market trajectory.#Gold #PreciousMetals #ANZ #GoldmanSachs #Geopolitics #FederalReserve #MonetaryPolicy #Investment #MarketForecast #SafeHavenAssets