Gold Prices Expected to Retest Record Highs Amid Geopolitical Risks
Standard Chartered's energy and metals research team predicts that gold prices are likely to rebuild gains and potentially retest record highs this year due to heightened geopolitical risks. The analysis notes tentative signs of price stabilization as exchange-traded product flows turned positive in April, with investors increasingly tracking real yields. If these flows remain stable, a price floor is expected to form. Additionally, central banks continue to act as net buyers of gold. Standard Chartered has set its second-quarter spot gold estimate at $4,650 per ounce, while current spot prices hover around $4,719.01 per ounce. This report is part of the Wall Street Journal's Basic Materials Roundup covering market insights on commodities.
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Gold Prices Expected to Retest Record Highs Amid Geopolitical Risks
Standard Chartered's energy and metals research team predicts that gold prices are likely to rebuild gains and potentially retest record highs this year due to heightened geopolitical risks. The analysis notes tentative signs of price stabilization as exchange-traded product flows turned positive in April, with investors increasingly tracking real yields. If these flows remain stable, a price floor is expected to form. Additionally, central banks continue to act as net buyers of gold. Standard Chartered has set its second-quarter spot gold estimate at $4,650 per ounce, while current spot prices hover around $4,719.01 per ounce. This report is part of the Wall Street Journal's Basic Materials Roundup covering market insights on commodities.
WSJ.com: Markets