Expectations of interest rate cuts have cooled, but the $6,000 target remains unchanged; central bank buying remains the solid logic.

Bank of America Managing Director Michael Weidmer stated that the decline in rate cut expectations has put short-term pressure on gold prices, but they remain bullish, with an expected rise to $6,000 per ounce in the next 12 months. The Middle East conflict has driven energy prices higher, bringing inflation and interest rate path re-pricing pressures. Nevertheless, factors such as central banks continuing to buy gold, a rebound in investor demand, and slowing economic growth still support further increases in gold prices.