The price of gold has dropped by 5% from its peak, what's next? Several Wall Street investment banks continue to be bullish on future trends.

In May of this year, influenced by factors such as the easing of global trade tensions, prices of financial market risk assets rebounded. Major stock indices in the US and Europe saw significant increases, while international oil prices rose slightly. The volatility of safe-haven asset gold prices intensified, falling by more than 5% from its historical high in April. Analysis by the London-based financial services firm EBC Financial Group pointed out that investors are still facing major risks such as the US tariff policy fluctuations, the soaring long-term bond yields in the US and Japan, and ongoing regional conflicts, and they recommended investors take a conservative strategy. So far this year, among the three major US stock indices, only the S&P 500 index has seen a slight increase, while crude oil futures have dropped by about 13%, and gold prices are still showing better performance than other assets, with several Wall Street investment banks continuing to be bullish on the future trend of international gold prices. Goldman Sachs predicts that international gold prices may rise to $3,700 per ounce by the end of this year. JPMorgan Chase predicts that international gold prices may break through the $4,000 per ounce level in the second quarter of 2026. However, Citigroup predicts that factors such as weakening demand from retail investors could potentially put downward pressure on gold prices after 2026.