$5,000 Gold by 2026? Reality or Fact?
Gold held steady after its biggest daily surge since May. Tuesday morning, prices hovered around $4,120/oz; at 8:33 a.m. Singapore time, gold rose 0.3% to $4,127.97. The Bloomberg Dollar Index was steady. Silver, platinum, and palladium also gained.
The trigger: a bipartisan deal to end the longest shutdown in US history, with the support of President Donald Trump, is expected to pass the Senate within days. The reopened government will release long-delayed economic data, a crucial "thermometer" for the market.
The expectation is that the data will show economic weakness, bolstering the case for further interest rate cuts. Lower interest rates are a boost for non-yielding gold.
Although gold's rally stalled last month, the long-term outlook remains positive. High central bank purchases and rising private investment maintain the foundations of demand. JPM Private even projects that gold prices could potentially reach $5,000 by the end of 2026. (asd)
Source: Newsmaker.id