State Street Global Advisors: Gold Price Under Short-Term Pressure but Bull Market Continues, May Reach $5,500 in 6 to 9 Months
State Street Global Advisors stated that due to the opportunity cost of holding gold and rising volatility impacting investor sentiment, bullish gold trades have performed weakly, with spot gold prices repeatedly testing the $4,000-per-ounce support level.
State Street believes that although gold prices may become more turbulent compared to 2024 to 2025, the bullish gold cycle still has upward potential. The Federal Reserve's anticipated hawkish policy shift is not expected to change the post-pandemic structural trend for gold.
State Street pointed out that “since the U.S.-Iran conflict, retail gold imports in China have surged, with local premiums rising in tandem, reflecting a tightening in the domestic gold supply-demand fundamentals.”
State Street expects that in the next 6 to 9 months, gold prices could rise to the $4,750 to $5,500 per ounce range, with strong support between $3,750 and $4,000 per ounce. However, compared to the macro environment in January and February, the likelihood of gold prices reaching $5,500 to $6,250 per ounce is lower.
Editor：Zhu Henan
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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