Institution: Gold Prices May Reach $5,000 per Ounce by Early 2027

On July 2, strategists at State Street Global Advisors noted in a report that gold prices could reach $5,000 per ounce by early 2027, as the gold bull market cycle remains persistent. They believe that with rising U.S. government debt, gold's position as a monetary hedge is likely to be supported, while actual demand for gold remains strong. The global gold fund holdings (which account for a portion of global mutual fund and exchange-traded fund assets) are currently still below State Street's target level of 3% to 10% for most portfolios. Additionally, they stated that the Federal Reserve's hawkish shift should not alter the structural trend of gold in the post-pandemic era. State Street expects that in the next six to nine months, the price of gold bullion will rise to between $4,750 and $5,500 per ounce. (Jin Shi)
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