Multiple factors support a long-term bullish trend in gold; investment banks remain optimistic about gold.

Mars Finance reports that on April 10th, institutions such as ANZ Bank and Goldman Sachs stated that even if the Middle East war disrupts the market, gold could still rebound in the long term. Analysts from various institutions believe that resilient central bank demand, ongoing geopolitical uncertainties, expectations of Federal Reserve rate cuts, and diversified investments in dollar-denominated assets are all reasons for long-term bullishness. ANZ Bank analysts Soni Kumari and Daniel Hynes said that prices are expected to eventually rebound because the macro combination of economic growth and inflation deterioration has paved the way for central banks to resume rate cuts. ANZ Bank maintains its outlook, predicting gold prices will reach $5,800 by the end of the year. Analysts wrote that central bank gold purchases are expected to remain a key support pillar, with official purchase volumes estimated at around 850 tons in 2026. ANZ Bank’s bullish stance echoes similar forecasts from Goldman Sachs and CIBC Bank in early March. Goldman Sachs maintains a forecast of $5,400, citing ongoing central bank gold purchases and expectations of a 50 basis point rate cut by the Federal Reserve this year. Goldman Sachs analysts previously stated that if disruptions in the Strait of Hormuz persist, gold will still face tactical downside risks in the short term. However, long-term conflicts could accelerate diversification away from traditional Western assets, providing long-term support for gold prices. (Jin10)