Core Viewpoint - Major investment banks have differing outlooks on gold prices, with predictions ranging from a high of $4000 per ounce to a low of $3000 per ounce over the next few years [1][2] Group 1: Bullish Predictions - Bank of America expects gold to rise to $4000 per ounce within the next 12 months [1] - Deutsche Bank now anticipates gold prices to reach $3400 per ounce by the end of this year and $3600 per ounce by the end of next year, up from previous expectations of $3000 per ounce [1] - Goldman Sachs maintains its forecast that strong structural buying by central banks will drive gold prices to $3700 per ounce by the end of 2025 and $4000 per ounce by mid-2026 [2] Group 2: Bearish Predictions - Citigroup predicts that weakened investment demand, improved global economic growth prospects, and potential Fed rate cuts could lead gold prices to fall below $3000 in the coming quarters [1] - Wells Fargo expects gold prices to slightly retreat to the $3000-$3200 range by the end of this year, before rising to $3600 by the end of 2026 [1] Group 3: Mixed Outlooks - ANZ suggests that the Fed may restart rate cuts in Q3, which could support gold prices, predicting a short-term consolidation followed by a rebound to $3600 by year-end [1] - Swiss Bank recommends buying on dips, expecting only a mild correction, with a target of $3500 per ounce by the end of 2025 [1] - TD Securities sets a one-month gold price target of $3650 per ounce, viewing gold as a low-risk hedge against escalating tensions in the Middle East [1]

Core Viewpoint - Goldman Sachs maintains its forecast that strong structural gold purchases by central banks will drive gold prices to $3,700 per ounce by the end of 2025 and to $4,000 per ounce by mid-2026 [1] Group 1 - Goldman Sachs expects central banks to continue their strong purchasing behavior in gold [1] - The forecast indicates a significant increase in gold prices over the next few years [1]

Core Viewpoint - Deutsche Bank now expects gold prices to reach $3,400 per ounce by the end of this year and $3,600 per ounce by the end of next year, up from previous forecasts of $3,000 per ounce [1] Summary by Category - **Gold Price Forecast** - Current forecast for gold price at year-end 2023 is $3,400 per ounce [1] - Expected increase to $3,600 per ounce by year-end 2024 [1] - Previous forecast was $3,000 per ounce for both years [1]

Core Viewpoint - Goldman Sachs predicts the potential for gold prices to reach 3700, with analysts noting that both bullish and bearish parties have set their respective targets [1] Group 1 - Analysts are assessing the current market dynamics influencing gold prices, highlighting the contrasting objectives of buyers and sellers [1] - The analysis includes a detailed examination of market trends and external factors that could impact gold pricing in the near future [1]

Family Office Highlights - Forbes China and Meichuan Thinking have launched the "2025 Forbes China Family Asset Manager Selection" to promote family culture and asset management significance, showcasing excellence in family asset management [8] - The National Financial Regulatory Administration plans to revise the "Trust Company Management Measures" and establish "Asset Management Trust Management Measures" in 2025, signaling significant changes in the trust industry [9] Macro Focus - The Central Political Bureau of the Communist Party of China emphasized the need to stabilize the real estate market and capital markets, implementing measures to address local government debt and enhance housing supply [12] - The Ministry of Industry and Information Technology is focused on expanding effective investment in manufacturing and stimulating private investment to support industrial growth [13] Investment Insights - New fund issuance in 2025 has exceeded 300 billion yuan, with equity funds accounting for nearly half of the total [17] - JPMorgan predicts that international gold prices may exceed $4,000 per ounce by Q2 2026, driven by economic recession risks and strong central bank demand [17] - High-profile executives, including Mark Zuckerberg, have sold significant amounts of company stock, with Zuckerberg selling 1.1 million shares of Meta for approximately 7.33 billion yuan [18][19] Corporate News - Cantor, in collaboration with Tether and SoftBank, is establishing a cryptocurrency platform with nearly $3 billion in funding [21] - Tesla's new car sales in Europe fell by 45% year-on-year in Q1 2025, amid a broader decline in traditional fuel vehicle registrations [22][23] - Elon Musk's xAI is negotiating to raise about $20 billion, potentially valuing the company at over $120 billion [23] - Apple and Meta were fined a total of 700 million euros by the EU for violating the Digital Markets Act [24] Global Perspective - Japanese institutions sold over $21.1 billion in foreign bonds in the first two weeks of April, marking one of the largest sell-offs since 2005 [26] - The Norwegian Sovereign Wealth Fund reported a loss of approximately $39.7 billion in Q1 2025, primarily due to volatility in the tech sector [27]

Core Viewpoint - Analysts predict that the average annual price of gold will exceed $3000 for the first time, with estimates of $3065 per ounce in 2025 and $3000 per ounce in 2026 [1] Gold Price Forecast - The average price of gold is expected to reach $3065 per ounce in 2025 [1] - The average price of gold is projected to be $3000 per ounce in 2026 [1] Silver Price Forecast - The average price of silver is anticipated to be $33.10 per ounce in 2025 [1] - The average price of silver is expected to rise to $34.58 per ounce in 2026 [1]

摩根大通表示，目前预计到2025年第四季度黄金价格将达到平均每盎司3675美元，到2026年第二季度金 价将朝着每盎司4000美元以上迈进。 ...

摩根大通：预计黄金平均价格到2025年第四季度将达到3675美元/盎司，预计到2026年第二季度有望突 破4000美元。 ...

澳新银行：将未来六个月黄金价格预测从每盎司3200美元上调至3500美元。 ...

高盛将年末黄金预测上调至每盎司3700美元（此前为3300美元）。 ...