Analyst: Gold Price Will Challenge the $5,000 Mark
Jinse Finance reported that spot gold surpassed the $4,000/ounce mark for the first time on Wednesday, while silver prices also climbed to record highs. Matthew Piggott, Director of Gold and Silver at Metals Focus, stated: "The strength in gold prices reflects a macroeconomic and geopolitical environment that is extremely favorable for safe-haven assets, coupled with concerns about other traditional safe-haven assets." Piggott added: "As these factors persist into 2026, we believe there are currently no obvious catalysts for a substantial correction in gold prices. Therefore, we expect gold to continue rising throughout the year and attempt to challenge the $5,000 mark." Paul Cooper, Global Head of Commodity Research at Standard Chartered Bank, said: "The silver market continues to tighten, lease rates are rising, COMEX inventories have reached record highs, and seasonal demand in India remains strong. The recent rally has also been supported by significant inflows into exchange-traded products (ETPs)."
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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