Institutions Predict Gold Price May Surge to $5,000 in the First Half of the Year

Odaily News As global macroeconomic uncertainties intensify, the market trends of precious metals and base metals are drawing significant attention. Joni Teves, a precious metals strategist at UBS, stated in a recent interview that the demand for diversified allocation is the core driver behind the current rise in gold prices. Institutional investors, retail investors, and central banks are all increasing their gold holdings to hedge against macroeconomic uncertainties. She expects gold prices to maintain upward momentum in the first half of the year. If concerns about the Federal Reserve's independence continue to escalate, gold prices could potentially surge to the $5,000 per ounce mark in the first half of the year. Silver, benefiting from the tailwind of rising gold prices and its own narrowing supply-demand gap, may challenge the $100 per ounce level this year. Driven by energy transition demand, the copper market is experiencing tightening supply-demand dynamics, which is expected to lift its price center. (Jin10)