Remarkable evaluations have been made by global financial institutions regarding the gold market, which is experiencing sharp fluctuations due to the impact of geopolitical tensions in the Middle East. Analysts state that despite short-term pressures, gold may enter an upward trend again in the medium and long term.
Gold prices fell approximately 10 percent above the $5,500 per ounce level in February, with increasing risks. The rise in US bond yields and the strengthening of the dollar were effective in this decline. However, according to experts, this withdrawal may not be permanent.
ANZ: YEAR-END TARGET IS 5800 DOLLARS
ANZ analysts pointed out that the deterioration of the balance of growth and inflation in the global economy may lead central banks to reduce interest rates again. It was stated that this scenario could push gold prices up.
While the bank maintains its ounce gold forecast at $5,800 for the end of the year, it predicts that central banks will be able to purchase approximately 850 tons of gold in 2026. It is emphasized that this strong demand is an important factor supporting prices.
GOLDMAN SACHS: INTEREST REDUCTION SUPPORTS GOLD
Goldman Sachs also maintained its optimistic expectations for gold. The bank stated that the expectation that the US Federal Reserve may reduce interest rates by a total of 50 basis points this year will have a supportive effect on gold prices. The institution maintained its estimate of $5,400 for an ounce of gold.
RISKS CONTINUE IN THE SHORT TERM
Analysts state that possible disruptions in the Strait of Hormuz may put pressure on the markets in the short term. However, if the conflicts prolong, investors are expected to turn to gold again in search of a safe haven.
While the inflation data announced in the USA remains below expectations, putting pressure on the dollar, this situation stands out as a supportive development for gold.
In light of all these developments, experts agree that gold may continue its upward trend in the medium and long term, despite short-term fluctuations. Geopolitical risks and central bank policies will continue to determine the direction of gold.
