Gold prices dropped to around $4,000 per ounce as investors turned away from safe-haven assets amid optimism for a US-China trade deal. The metal held above $4,000 after a significant drop last week, ending a nine-week winning streak and the biggest rally in over 40 years.

Despite recent declines, Wall Street remains bullish on gold. Analysts from UBS Global Wealth Management see potential for further gains, while Bank of America predicts a peak of $6,000 per ounce by mid-2026. Goldman Sachs forecasts gold hitting $4,900 per troy ounce by the end of next year.

Overall, gold’s future remains uncertain, with conflicting predictions from top financial institutions. Some see room for growth, while others anticipate further declines. Investors are advised to monitor the market closely and consider adding gold to a diversified portfolio for potential gains.

Read more at Yahoo Finance: Gold declines to $4,000 amid sell-off. Are China-US trade deal talks to blame?