Institution: The long-term prospects of gold remain solid.

Pictet investment manager Alejandro Bondavalli stated in a research report that the long-term outlook for gold remains solid. The analyst pointed out that the price of gold has been under pressure recently due to a strong US dollar, repricing of monetary policy expectations, and selling pressure driven by liquidity. However, he added that in the long run, policy and geopolitical uncertainties as well as de-dollarization should continue to drive gold prices higher. He said, "We believe that the recent pullback is an opportunity," as expectations for interest rate hikes may weaken. If the Middle East conflict stabilizes, this would be beneficial for gold. He added that in adverse scenarios, the risk of a global economic recession will increase, and central banks around the world may be forced to cut interest rates, which would be favorable for gold as a non-yielding precious metal.