Kathrein Investment Impulse 2026: Constructive Stock Market Environment Still Intact, Gold Price Remains Supported Despite Volatility

• Central bank purchases from emerging markets could support the gold price in the medium term
• US economy still robust, but persistently high crude oil prices remain a sword of Damocles

Vienna, April 27th 2026 - In 2026, Kathrein Privatbank once again invited institutional investors to the Kathrein Investment Impulse, serving as a key platform for exchanging views on current economic and financial developments. The event provided insights into global capital markets, macroeconomic trends, and their impact on various asset classes. Ed Clissold, Chief U.S. Strategist at Ned Davies Research, and Aaron Alber from Raiffeisen Research presented current assessments of the economic situation, the effects of the Iran crisis on asset allocation, and the role of commodity prices.

Global Capital Markets and Economic Conditions
“The stock markets in the US and worldwide are showing signs of recovery after the shock of the outbreak of war in the Middle East, but typical technical confirmations for a sustainable trend reversal are still missing,” explains Ed Clissold, Chief U.S. Strategist at Ned Davies Research. “Economic growth and corporate earnings could remain positive; however, some headwinds are expected in the second half of the year due to higher oil prices, fewer-than-expected interest rate cuts, and uncertainties ahead of the US midterm elections.” 

Gold as a Strategic Asset in Volatile Times
Aaron Alber, Senior Analyst at Raiffeisen Research, highlighted the key factors influencing the gold price: “Gold is significantly affected by economic developments, monetary policy decisions, central bank purchases, geopolitical tensions, and the US dollar’s performance.” He added, “We remain optimistic on gold over the year and beyond, as these factors can continue to provide support. In particular, central banks may continue to buy gold to reduce their dependence on US Treasury bonds.” 

The experts see gold as a potential hedge in an environment marked by uncertainties and geopolitical risks.

KATHREIN PRIVATBANK

Kathrein Privatbank AG, based in Vienna, was founded in 1924 by Carl Kathrein and is one of the leading private banks in the German-speaking region. Its core competence lies in the management of private, corporate, and institutional assets, as well as the assets of private foundations. As a subsidiary of Raiffeisen Bank International AG, the private bank offers the advantages of a flexible, independent, and service-oriented institution and the security of a stable, international banking group.

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Contact:

Daniel Rosenauer

PR & Marketing Manager

Mobile: +43 676 83191 375

[email protected]

Contact:
Daniel Rosenauer
PR & Marketing Manager
Kathrein Privatbank
Wipplingerstraße 25, 1010 Vienna
[email protected]
Tel: +43 676 831913375

Disclaimer:

This is a marketing communication by Kathrein Privatbank Aktiengesellschaft within the meaning of the Securities Supervision Act 2018 and is for information purposes only. This information aims to provide a general overview of current market data and Kathrein’s market opinion and does not constitute a direct or indirect recommendation for any specific investment strategy in the sense of financial analysis. Investments in securities are subject to price fluctuations due to market changes at any time. Information and representations referring to the past do not allow reliable conclusions about future results. Despite careful research and recording, no liability or guarantee can be assumed for the accuracy of the data.