QNB expects further upside for gold over medium- and long-term

Doha: Qatar National Bank (QNB) expected further upside for gold over the medium and long term despite the sharp rally in recent months and significa...

Doha: Qatar National Bank (QNB) expected further upside for gold over the medium- and long-term despite the sharp rally in recent months and significant risks of short-term corrections.

In its Weekly Economic Commentary, QNB said: Consensus amongst leading research houses suggest that gold prices are likely to be well sustained at around USD 4,000 per troy oz with estimated upside of 10-15% over the next twelve months.

Gold has once again proven its value in providing robust returns in times of global uncertainty. In fact, gold has been one of the standout global asset classes in recent years, consistently demonstrating remarkable resilience.

Since the post-pandemic normalization in 2022, gold prices have gained around 105%, significantly outperforming most global benchmarks, including equities, bonds, and commodities.

This broad-based outperformance underscores gold's unique position as both a store of value and a macro hedge in an era defined by three converging structural forces: strong global growth in money supply, geopolitical fragmentation, and central bank reserve diversification.