与瑞银、小摩共唱多！澳新银行高呼金价回调恰为入场良机：二季度目标价上修至5800美元

Core Viewpoint - Despite a recent pullback from the historical high of $5,600 per ounce, analysts at ANZ Bank suggest that this correction may attract new investments due to ongoing structural support and a lack of signs indicating a trend reversal, with expectations for prices to reach $5,800 per ounce by Q2 2026 [1][4] Group 1: Market Dynamics - Analysts from ANZ Bank, Sony Kumari and Daniel Hynes, indicate that the current gold price trend is fundamentally different from speculative bubbles seen in 1980 or 2013, driven instead by deep structural demand [3] - Factors such as loose U.S. monetary policy, escalating geopolitical tensions, ongoing policy uncertainty, and a weakening dollar are contributing to the current gold price dynamics [3] - The perception of credit risk associated with the dollar is prompting central banks and institutional investors to diversify their asset allocations, reinforcing gold's status as the "ultimate safe-haven asset" [3] Group 2: Future Projections - ANZ Bank has revised its gold price target for Q2 2026 from $5,400 per ounce to $5,800 per ounce, indicating a significant upward adjustment [4] - The bank also notes that silver prices are expected to remain closely tied to gold prices, with a forecast that silver will underperform gold, leading to a mean reversion of the gold-silver ratio to 70:1 [4] Group 3: Market Sentiment - There is a growing consensus among major Wall Street investment banks regarding bullish sentiment on precious metals, with Goldman Sachs setting a target price of $5,400 for the end of 2026, while UBS and JPMorgan have more aggressive forecasts of $6,200 and $6,300, respectively [5]