World experts comment on gold prices in the coming time
Gold prices rise again above $4,000/ounce due to expectations of a US-China trade deal, the Fed cuts interest rates for the second time this year
World gold prices rose again in the session on October 29, after falling to the lowest level in the past 3 weeks when expectations of a US-China trade deal weakened demand for shelter.
Trade Nation expert David Morrison said the sell-off has been almost endless, except for a brief pause late last week. However, he still believes gold prices could soon find support and bounce back as selling pressure wanes.
Since the start of 2025, gold prices have risen sharply from $2,700 an ounce to a peak of $4,350 an ounce in early October, an increase of about 43%. The current correction is considered a "cooling off" period after a series of increases that lasted more than four decades.
According to expert Shree Kargutkar from Sprott Asset Management, it is understandable that investors are taking profits after a period of hot growth, because gold prices have increased too quickly in a short period of time.
However, Wall Street experts still maintain a positive view on the long-term trend of gold prices, especially when the US Federal Reserve (Fed) is likely to continue cutting interest rates in the near future.
UBS analysts predict that gold prices will soon recover and could reach $4,700 an ounce by the end of the first quarter of 2026. They believe that macroeconomic factors and investor sentiment are still strongly supporting this precious metal.
UBS Global Wealth Management's report stressed that, despite the large volatility, gold prices are still driven by fundamentals and safe-haven flows.
In addition, Bank of America continues to recommend “holding gold for the long term”, predicting that gold prices could peak at $6,000/ounce by mid-2026.
Goldman Sachs also raised its forecast to $4,900 an ounce by the end of next year, reflecting its belief that gold remains a safe investment amid global uncertainty.
Despite the short-term pressure on gold prices, many investors believe the bull run is not over yet. Factors such as economic risks, loose monetary policy and central bank buying continue to provide a solid foundation for gold prices.
With its long-term appeal and quick recovery, gold is still considered a "safe haven" for global capital flows during volatile times.