Analysts in the medium and long term expect gold prices to rise, according to a CNBC survey. For example, Craig Erlam from Oanda believes that in the coming months the quotes may reach new highs.

According to him, the Federal Reserve will start to reduce the rate earlier than it was expected against the background of the crisis in the U.S. banking sector. Tina Teng from CMC Markets agrees with this point of view, believing that this circumstance will promote a rally in the gold market.

According to Fitch Ratings, the gold price may rise to 2075 per troy ounce in the coming weeks. According to the agency, the financial instability contributes to it. Gold miner MKS Ramp predicts a rise to $2200 in the longer term.