Analyst: Precious Metals Lose Some Geopolitical Premium, Still Believe Gold Price Has Chance to Reach $5,000

Odaily News: Marex analyst Edward Meir stated: "After several consecutive weeks of strong gains, commodities have retreated overall, with some profit-taking occurring. The easing of tensions in the Middle East has also caused gold and other metals, especially silver, to lose some of their geopolitical premium." As protests in Iran subside, US President Trump adopts a wait-and-see approach, and Russian President Putin intervenes to mediate, geopolitical tensions appear to have eased somewhat. Meir said: "I still believe the gold price has a chance to reach $5,000 at some point this year, but it will be accompanied by significant pullbacks along the way." (Jin10)