Gold Forecast Soars to $5,000 as Debt Fears Mount

A market analyst at Natixis has raised his year-end forecast for gold to $5,000 per ounce from a previous target of $4,600.

This upgraded prediction comes after a months-long correction in gold prices, which have shown resilience in holding critical support above $4,000.

The analyst attributed the rally's start in early August to disappointing economic data that prompted markets to reassess interest rate expectations, leading to a decrease in anticipated rate hikes and an increase in expected rate cuts.