“Gold Consolidation, Power Unstoppable – The Golden Path Toward New Highs” : Article by SO OK TRADING : April 4, 2026
“Gold Consolidation – The Opportunity to Accumulate Before the Next Big Wave!”
Global Gold Market (April 2026)
As of April 2026, the global gold market is in a phase of “high-level consolidation” after soaring to a record high of $5,594 per ounce earlier this year. Currently, gold spot prices are moving within the range of $4,522 – $4,702 per ounce (around 72,200 THB per baht gold bar in Thailand). Although prices have corrected from the peak, the overall trend remains a Structural Bull Market, highlighting gold’s resilience as a safe-haven asset.
Market Drivers
Bullish Drivers → Pushing Gold Prices Up
Central banks worldwide, especially China and emerging markets, continue to accumulate gold to reduce reliance on the U.S. dollar.
Geopolitical risks in the Middle East and Ukraine encourage investors to hold gold as a safe-haven asset.
Rising U.S. public debt increases concerns over fiat currency stability, boosting gold’s appeal as a store of value.
Expectations of Fed rate cuts in the second half of the year could strongly support gold prices.
Bearish Pressures → Weighing on Gold Prices
A stronger U.S. dollar makes gold more expensive for holders of other currencies.
Rising U.S. bond yields attract capital away from gold.
Profit-taking after gold’s all-time high earlier this year.
Stronger-than-expected U.S. economic data raises the likelihood of prolonged high interest rates.
Quarterly Outlook
Q2 (Current): Market is “building a new base,” with prices ranging between $4,000 – $4,700.
Q3: Prices are expected to rise sharply if the Fed signals rate cuts and U.S. politics enter the midterm election cycle.
Q4: Major financial institutions forecast targets between $5,000 – $5,400, with central bank buying as a key driver.
Global Financial Institutions’ Views
J.P. Morgan: Year-end target up to $6,300
Goldman Sachs: Forecast $5,400
UBS: Forecast $5,600
ANZ: Predicts continued rally to $5,800
Citi: Warns that if geopolitical risks ease, gold could sharply correct to $2,700 (a rather pessimistic view)
Investment Strategy
Short-Term Investors: Current phase is best described as “wait-and-see,” with prices consolidating in range.
Long-Term Investors: April is seen as a golden opportunity to gradually accumulate, supported by the global de-dollarization trend and sustained central bank buying.
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