Gold Prices Soar by 15% as Analyst Predicts $5,000 Target

Gold prices are regaining momentum after months of adjustment, according to Mr. Bernard Dahdah, a precious metals analyst at Natixis.

In his latest forecast, he has raised the target for gold prices by the end of 2026 to $5,000 per ounce, up from his previous level of $4,600.

This represents an increase of nearly 15% in August, which could be the strongest month of gold price growth since September 1999.

The upward trend is attributed to changes in monetary policy expectations and the US Treasury Department's move on the bond market, including a doubling of the scale of buying back 10-year and 30-year government bonds to $4 billion.

Mr. Dahdah believes that concerns about fiscal stability and the US bond market are driving gold prices higher, as investors seek to defend against the risk of a depreciating USD.