ING: Gold Prices May Surge to $5000, Iranian Situation and Inflation Data Key Variables

On May 11, analysts from ING Group stated that despite short-term market fluctuations being influenced by developments in the U.S. and Iranian situations, gold prices could still rise to $5000 within the year. The analysis pointed out that short-term gold price trends are primarily driven by real interest rates, the movement of the dollar, and expectations regarding Federal Reserve policies. However, as related pressures ease, the medium to long-term support for gold is expected to return. If the Iranian conflict achieves a lasting de-escalation, it will become a significant trigger for sustained increases in gold prices. The current market is focused on the upcoming U.S. CPI inflation data to seek clues about the interest rate path. As a result of these expectations, gold futures rose slightly by 0.1%, reaching $4736 per ounce.

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