OCBC Group Research strategists say gold remains an effective medium‑term portfolio diversifier but prices may be pressured by a tougher macro backdrop. Central bank buying — several central banks have signalled plans to add to reserves over the next 12 months — should support demand. However, investors have largely priced Fed tightening; rising real yields and a stronger dollar are likely to exert short‑term headwinds that may not be fully offset. OCBC forecasts gold at $4,360/oz by end‑2026 an

OCBC Group Research strategists say gold remains an effective medium‑term portfolio diversifier but prices may be pressured by a tougher macro backdrop. Central bank buying — several central banks have signalled plans to add to reserves over the next 12 months — should support demand. However, investors have largely priced Fed tightening; rising real yields and a stronger dollar are likely to exert short‑term headwinds that may not be fully offset. OCBC forecasts gold at $4,360/oz by end‑2026 and $4,680/oz by end‑Q2 2027.