Gold May See Long-Term Rebound Despite War Setbacks, Banks Say

Gold is likely to rebound in the long-term even as the Middle East war upended the market, according to banks including ANZ Banking Group Ltd. and Goldman Sachs Group Inc.

Resilient demand from central banks, continued geopolitical uncertainty, expectations for Federal Reserve rate cuts and a diversification away from dollar-denominated assets are all reasons for long term optimism, according to analysts across institutions.