According to Jin10, gold rose in Asian morning trading as risk appetite improved. Analysts at Australia and New Zealand Banking Group (ANZ) said in a report that hopes are growing that a Democratic-led U.S. Congress can fight inflation more effectively. The World Gold Council said central banks’ gold reserves increased by a net 321 tonnes in the third quarter. Goldman Sachs maintained a long-term positive view on structurally strong central-bank demand but lowered its year-end 2026 gold price forecast to $4,150 from $4,650, citing the impact on positioning of the Federal Reserve’s more hawkish turn in recent months. Spot gold was up 0.4% at $4,101.80 per ounce.