CITIC Securities: Predicts that gold prices are expected to exceed $3,730 by the end of the year

According to ChainCatcher news, citing a research report from CITIC Securities, since the end of April, gold has been in a volatile market. We believe that factors such as tariff shocks, U.S. fiscal policy, geopolitical issues, and central bank gold purchases have created a complex balance of bullish and bearish sentiments. However, changes in these factors are expected to open up an upward trend for gold.

The improvement in tariff expectations may come to a temporary halt, while the impact of stagflation may just be beginning to manifest; the likelihood of a significant decrease in geopolitical risks within the year is low; the Federal Reserve may initiate an early rate cut; and the trend of global central bank gold purchases remains stable. Under a neutral hypothesis, our model predicts that gold prices are expected to exceed $3,730 per ounce by the end of the year.