Institution: Long-term driving factors for gold remain intact despite recent corrections Maintaining a positive outlook on gold.

Heng Koon How of Dah Sing Bank stated in a research report that despite recent significant corrections, the long-term positive fundamentals that drive gold remain intact. This market strategist pointed out that these driving factors include continued allocations by central banks around the world and investors buying gold through various investment products. He added, "All these gold buying behaviors share a key common motivation, which is the need for risk diversification in portfolios amid an increasingly tumultuous de-dollarization backdrop." Dah Sing Bank maintains a positive outlook on gold and has raised its gold price forecasts by $100/ounce, with the fourth quarter of 2025 forecast adjusted to $4,000/ounce, the first quarter of 2026 to $4,100/ounce, the second quarter to $4,200/ounce, and the third quarter to $4,300/ounce.