PRECIOUS METALS | Analysts Maintain Varied Gold Price Targets Amid Middle East Uncertainty

Citigroup has maintained its gold price targets, projecting $4,300 in the next 0-3 months and $5,000 in the next 6-12 months. According to Jin10, the uncertainty in the Middle East may keep selling pressure on gold strong in the short term. UBS continues to believe that gold prices can rebound from current levels, setting an annual target of $5,600 per ounce. They suggest that a drop to $4,000 should be seen as an opportunity to accumulate gold holdings. ANZ has revised its year-end gold target from $5,800 to $5,600 and postponed its $6,000 target from early 2027 to mid-2027. TD Securities attributes the current decline in gold prices to the oil price shock and higher inflation expectations caused by the Iran war, noting strong long-term support in the $4,000-$4,288 range. They anticipate that once the conflict and oil price pressures ease, gold could resume its bullish trend, aiming above $5,200. Morgan Stanley forecasts that gold prices will rise to approximately $5,200 per ounce by the end of this year, indicating about a 10% increase from current levels. They note that the recent Middle East situation is not the sole factor influencing gold prices.