Brokerage firm Bernstein has sharply lifted its long-term gold outlook, arguing that sustained institutional demand and favorable macro conditions could push the yellow metal significantly higher by the end of the decade.

The Bank of Korea (BOK) said Thursday it will take a data-driven and cautious approach when deciding on further interest rate cuts next year, closely monitoring inflation, economic growth, and foreign exchange market conditions.

Major brokerages including Goldman Sachs, Morgan Stanley, UBS, and BofA now expect the Bank of England (BoE) to hold off on further rate cuts this year, following the central bank’s decision on Thursday to pause after its quarter-point reduction in August.

Asian stocks mostly climbed on Thursday after comments from U.S. Federal Reserve officials suggested possible interest rate cuts, and a Japanese bond auction eased investor concerns.

The Federal Reserve is seen restarting interest-rate cuts in June, traders bet on Tuesday, as government data showed U.S. producer prices were unexpectedly flat last month and weekly jobless claims fell.