ING: Gold prices may surge past $5,000, with Iran situation and inflation data as key variables

robot
Abstract generation in progress

BlockBeats News. On May 11, analysts at ING Group said that although short-term market fluctuations are still influenced by developments in the situation between the US and Iran, gold prices may still rise to $5,000 within the year.

The analysis noted that the short-term gold price trend is mainly driven by real interest rates, the US dollar trend, and expectations for Federal Reserve policy. As related pressures ease, support for gold over the medium to long term is expected to return. If the Iran conflict achieves sustained de-escalation, it will become an important trigger for gold prices to keep rising.

The current market is focused on the upcoming US CPI inflation data to look for clues on the interest-rate path. Driven by expectations, gold futures inched up by 0.1%, to $4,736 per ounce.

View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pin