Analysis: Gold's medium-term upward trend remains unchanged, and the damage of high oil prices to demand will gradually become apparent

Odaily News According to a research report from Zhongtai Securities, gold's medium-term upward trend remains unchanged, industrial metals such as copper and aluminum are generally supported, the central price of crude oil may rise, but the room for further significant increases is limited. Gold can still be held firmly in the medium term, with the core driving forces being the marginal weakening of the US dollar credit system and expectations of declining real interest rates. The report holds a relatively optimistic view on industrial metals represented by copper and aluminum, benefiting from overseas economic recovery and new energy demand, with supply and demand fundamentals set to dominate price trends again. The room for further upside in crude oil prices is limited, with geopolitical premiums quickly eroding, coupled with OPEC+ production increases and downward revisions to demand expectations. The damage of high oil prices to demand will gradually become apparent. (Jin10)