Global gold prices surged close to $4,100 per ounce, amid falling oil prices and expectations for US-Iran talks within the next one to two days. MTS GOLD reported that the decline in oil prices helped ease inflation concerns and could reduce the likelihood of a Federal Reserve rate hike, while investors watch US employment data this week. The SPDR fund bought an additional 3.42 tonnes of gold the previous day, bringing its total holdings to 1,009.30 tonnes. Meanwhile, FxPro noted that capital inflows into Chinese gold ETFs have continued for 14 consecutive days. Deutsche Bank assessed that gold's correction is nearing its end, with key support at $3,900, and gave a fair value near $4,700 by year-end, along with a target of $4,600 for the fourth quarter of 2026.
Deutsche Bank AktiengesellschaftDeutsche Bank's analyst assessment that gold's correction is nearly over with a fair value near $4,700 is a positive valuation call.
