Institutions: Gold prices still have room to rise Central bank purchases of gold to boost demand

Sina Financial News The research department of OCBC Bank said in a report that in the medium term, there may be room for gold prices to rise further. As of April 3, the gold price has risen 11.5% year-to-date. “We remain optimistic about the outlook for gold prices in anticipation of an easing of interest rates globally, central banks will continue to buy gold, and gold has the characteristics of a geopolitical hedge,” the bank’s analysts said. Stephen, managing director at SPI Asset Management, said gold investors now believe that the Fed will choose to cut interest rates regardless of whether inflation reaches target or not. In addition, central banks in emerging markets are increasing their gold reserves, increasing demand for precious metals. “This move will support gold prices in the near term,” he said. ”