大华银行：尽管近期出现回调 但金价的长期驱动因素仍未改变

Core Viewpoint - Despite recent significant declines in gold prices, the long-term positive fundamentals for gold remain unaffected, driven by central bank purchases and investor demand for diversification amid increasing de-dollarization narratives [1] Group 1: Market Analysis - Central banks continue to allocate gold, which supports its long-term demand [1] - Investors are purchasing gold through various investment products, indicating a strong interest in gold as a safe-haven asset [1] - The common motivation behind these purchases is the need for portfolio diversification and risk mitigation in a volatile economic environment [1] Group 2: Price Forecast - The bank has raised its gold price forecast by $100 per ounce, projecting prices to reach $4,000 per ounce by Q4 2025 [1] - Further projections include $4,100 per ounce by Q1 2026, $4,200 per ounce by Q2 2026, and $4,300 per ounce by Q3 2026 [1]