Institutions say gold prices may hit $5,000 in the first half of the year

Odaily Planet Daily reported that as global macro uncertainties intensify, the market trends of precious metals and base metals are receiving close attention. UBS precious metals strategist Joni Teves recently stated in an interview that diversification needs are the core driving force behind this round of gold price increases, with institutional investors, retail investors, and central banks in various countries all increasing their gold holdings to cope with macro uncertainties. She predicts that gold prices will still have upward momentum in the first half of the year, and if market concerns about the Federal Reserve’s independence continue to rise, gold could challenge the $5,000 per ounce level in the first half of the year. Silver benefits from the rise in gold prices and its own supply-demand gap narrowing, and may challenge $100 per ounce this year. The copper market, driven by energy transition demand, is tightening in supply and demand, and the price center is expected to rise. (Jin10)