Analysis: The medium-term upward trend in gold remains unchanged, and the disruptive impact of high oil prices on demand will gradually become evident.

Odaily Planet Daily reported that China and Thailand Securities’ research note states that the medium-term upward trend of gold remains unchanged, and industrial metals such as copper and aluminum are generally supported. The crude oil price center may rise, but there is limited room for further significant increases. Gold can still be confidently held in the medium term, with the core driving forces being the marginal weakening of the U.S. dollar credit system and the downward expectation of real interest rates. A generally optimistic view is held for industrial metals like copper and aluminum, benefiting from overseas economic recovery and new energy demand. The supply and demand fundamentals will once again dominate price trends. The space for further upward movement of crude oil prices is limited, with geopolitical premiums quickly unwinding. Coupled with OPEC+ production increases and downward revisions of demand expectations, high oil prices will gradually show their destructive effects on demand. (Jin10)