CITIC Securities: Awaiting a Double Boost for the Gold Sector from Valuations and Earnings at the Bottom
According to Golden Ten Data on July 6, CITIC Securities pointed out that since the US-Iran conflict, gold prices and gold stocks have experienced a significant overshoot to the downside. Currently, gold stocks have a very strong safety margin in terms of both PE ratio and resource valuation. It is expected that in the third quarter of 2026, the gold price will range between $4,000 and $4,500 per ounce. If the rate hike expectations are fully corrected, gold prices are likely to return to $4,500–$5,000 per ounce. The gold sector will benefit from a resonance recovery in both earnings expectations and valuation levels. Comprehensive allocation opportunities in the gold sector should be emphasized.
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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