International Netherlands: Expect the gold bull run to continue, but "world peace" may lead to a fall in gold prices.

Jin10 data reported on October 10th that ING believes there is still further room for the bull run in gold. The institution expects gold prices to average $4,000 per ounce in the fourth quarter, reaching $4,100 per ounce in the first quarter of 2026, and $4,200 per ounce in the following quarter. Ewa Manthey from ING pointed out in a report: “Central banks around the world are continuing to buy, Trump's trade war is still ongoing, geopolitical risks remain high, ETF open interest continues to expand, and market expectations for the Fed to further cut interest rates are increasing.” So, what could be the potential issue for gold prices? Manthey stated it is “world peace.” She believes a significant market dumping could also force investors to sell gold to raise cash.