Gold could reach $5,000 per ounce before year-end, analyst says
Laurent Lequeu of The Macro Butler predicts gold may hit $5,000 per ounce before the end of this year, despite a possible technical dip to $4,200.
Key Takeaways
AILaurent Lequeu, founder of the macroeconomic research platform The Macro Butler, said gold is targeting $5,000 per ounce before the end of this year, despite a potential technical pullback to $4,200.
In a televised interview with Asharq, Lequeu added that August saw strong performance, with some funds rebalancing their positions, and that there is no concern over the technical decline.
Lequeu continued that gold is expected to return to higher levels, and while technical factors may cause fluctuations, speculative activity has returned to gold prices. He said gold could rise or fall in the short term, but is ultimately targeting $5,000 per ounce before the end of the current year.
View the post on X